Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Elliott Wave Analysis by EWF
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="Elliottwave-Forecast, post: 211991, member: 40858"] Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of Soybeans Futures. As our members know, $ZS_F is having bearish sequences in the cycle from the June 1784'0 peak. Current view is calling for further weakness against the 1671'3 pivot. Recently the commodity has given us 3 waves correction against the mentioned peak. soybens futures found sellers right at equal legs area as we expected. In the further text we are going to explain the Elliott Wave Forecast and trading strategy. [HEADING=3]Soybeans H1 Elliott Wave Analysis 08.09.2022[/HEADING] Soybeans is correcting the short term cycle from the 1681'0 peak. Recovery seems to be unfolding as Elliott Wave Zig Zag which looks incomplete at the moment. The price structure suggests more upside toward 1541'7-1596'7 area, blue box- selling zone. As the commodity is currently in bearish cycle, we expect sellers to appear at the marked zone for further decline toward new lows or for a 3 waves pull back at least . Strategy is selling the commodity at the marked zone. Invalidation for the trade would be break above 1.618 fibs extension: 1596'7. As the main trend is bearish we expect sellers to appear at the blue box for 3 waves pull back at least. Once pull back reaches 50 Fibs against the B red low, we will make short position risk free ( put SL at BE) and take partial profits. [I]Reminder: You can learn about Elliott Wave Rules and Patterns at our [B]Free Elliott Wave Educational Web Page[/B].[/I] [URL='https://elliottwave-forecast.com/wp-content/uploads/2022/08/ZS-08.09.jpg'][IMG alt="Soybeans"]https://elliottwave-forecast.com/wp-content/uploads/2022/08/ZS-08.09.jpg[/IMG][/URL] [HEADING=3]Soybeans H1 Elliott Wave Analysis 08.19.2022[/HEADING] Eventually , soybeans made extension higher toward our selling zone :1541'7-1596'7. The commodity found sellers right at the blue box and made decent reaction lower from there. As a result, members who took short trades at the blue box got opportunity to make positions risk free ( Put SL at BE) and take partial profits. At this stage we see wave (B) blue recovery completed at 1557'5 high. Decline from the mentioned peak looks as 5 waves structure which increase chances of further extension down. We would like to see break of previous low : (A) blue to confirm next leg down is in progress. Keep in mind market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences.We put them in Sequence Report and best among them are shown in the [B]Live Trading Room[/B]. [URL='https://elliottwave-forecast.com/wp-content/uploads/2022/08/ZS-08.19.jpg'][IMG alt="Soybeans"]https://elliottwave-forecast.com/wp-content/uploads/2022/08/ZS-08.19.jpg[/IMG][/URL] [B]Elliott Wave Forecast[/B] Source: [URL]https://elliottwave-forecast.com/trading/soybeans-zs_f-selling-blue-box/[/URL] [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…