Soybeans - Short Idea
I see price has had a great run up, this is the 4H chart but the daily is speaking to me. Price has confirmed by a small pullback and now showing rejection at the 50-61.8% Fib levels, price showing an engulfing pattern at those levels.
Soybeans is a touchy commodity, I would think.. like all commodities right now, more upside.. but certainly room for a relaxation of price here, 2:1 tucked in before hitting the 4H 200 EMA.
Its a solid short setup... that is all we can do, take good setups and manage risk...rinse & repeat.
1% Risk.
Soybeans is a touchy commodity, I would think.. like all commodities right now, more upside.. but certainly room for a relaxation of price here, 2:1 tucked in before hitting the 4H 200 EMA.
Its a solid short setup... that is all we can do, take good setups and manage risk...rinse & repeat.
1% Risk.
I moderate a small community 4 traders, analyzing weekly charts, and discussing trade setups. Focusing on psychology.
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