My main idea here is to watch for weakness and short in the red area which is the completion of the two bearish AB=CD patterns shown in the chart. There is also a longer term downtrend line at this zone which would be a nice place to enter. At that point I will also look for divergence in my indicators, as well as check for any warning signs such as large bullish candles, etc.
For this idea to play out Soybeans still has room to the upside but there is of course the possibility that these patterns do not complete. So for the shorter term I am watching for trade set-ups in either direction with a slightly bullish bias.
Your comments and feedback are always welcome and appreciated.
For this idea to play out Soybeans still has room to the upside but there is of course the possibility that these patterns do not complete. So for the shorter term I am watching for trade set-ups in either direction with a slightly bullish bias.
Your comments and feedback are always welcome and appreciated.
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