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
Technical Analysis #C-SOYBM : 2019-03-05
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="IFC Markets, post: 160812, member: 18359"] [SIZE=5][B]The abolition of duties on US soybeans will be discussed at the meeting of the heads of the United States and China[/B] [B][/B][/SIZE] China may abolish duties on US soybeans. Will soybean meal prices rise? The abolition of duties will be discussed at the meeting between US President Donald Trump and Chinese President Xi Jinping, which is expected on March 27, 2019. If this happens, prices may rise, as China is the world’s largest importer of soybeans. According to the European Commission, soybean imports to the European Union in the 2018/19 agricultural season, from July 1 to March 3, increased by 8% and reached 9.4 million tons. The Brazilian agency INTL FCStone expects a 5% reduction in soybean crop in Brazil in 2019 to 113 million tons. [IMG]https://ifccd.net/uploads/image/04-03-2019.png[/IMG] On the daily timeframe, [B]SOYBM: D1[/B] is in a long-term neutral trend. A number of technical analysis indicators formed buy signals. The further price growth is possible in case of an increase in global demand and a reduction in crop. [LIST] [*]The [B]Parabolic Indicator[/B] gives a bullish signal. [*]The Bollinger bands have narrowed, which indicates low volatility. [*]The RSI indicator is above 50. It has formed a positive divergence. [*]The MACD indicator gives a bullish signal. [/LIST] The bullish momentum may develop in case [B]SOYBM[/B] exceeds its last fractal high and the upper Bollinger band at 316. This level may serve as an entry point. The initial stop loss may be placed below the low since September 2017, the Parabolic signal and the lower Bollinger band at 300. After opening the pending order, we shall move the stop to the next fractal low following the Bollinger and Parabolic signals. Thus, we are changing the potential profit/loss to the breakeven point. More risk-averse traders may switch to the 4-hour chart after the trade and place there a stop loss moving it in the direction of the trade. If the price meets the stop level (300) without reaching the order (316), we recommend to close the position: the market sustains internal changes that were not taken into account. [SIZE=5][B]Summary of technical analysis[/B][/SIZE] [B]Position[/B] Buy [B]Buy stop[/B] Above 316 [B]Stop loss[/B] Below 300 [/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…