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Soybeans Futures ( $ZS_F ) Buying The Dips At The Blue Box Area


January 3, 2022 By

Soybeans Futures ( $ZS_F ) is another instrument that has given us trading opportunities lately . The commodity is showing impulsive bullish sequences in the cycle from the November’s 1181’3 low. Recently it made clear 3 waves pull back and found buyers at the blue box as we expected. In this technical blog we’re going to take a quick look at the charts of Soybeans Futures published in members area of the website and explain the Elliott Wave structure and trading strategy.

Soybeans $ZS_F Elliott Wave 1 Hour Chart 12.31.2021

Current view suggests the commodity is ending 4 red as Elliott Wave Double Three pattern. The correction is labeled as ((w))((x))((y)). Buyers should ideally appear at the blue box : 1328’6-1310’0 for 3 waves bounce at least. We already can count 7 swings down from the peak, so turn higher can be taking place any moment. Once bounce reaches 50 Fibs against the ((w)) black connector, we will make long position risk free ( put SL at BE). Invalidation for the trade would be break below 1.618 fibs extension: 1310’0.

You can learn more about Elliott Wave Patterns at our Free Elliott Wave Educational Web Page.

Soybeans $ZS_F Elliott Wave 1 Hour Chart 12.31.2021

The commodity has found buyers at the marked zone and we got very good reaction from there. The rally from the blue box reached and exceeded 50 fibs against the ((x)) connector. Consequently members who have taken the long trades at the blue box now enjoying profits in a risk free trades. Now we would need to see break of 3 red peak in order to confirm next leg up is in progress. Otherwise if pivot at 4 red low gives up in the mean time, we can get double from the peak, which will give us opportunity to buy the commodity again.

Keep in mind that 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 Live Trading Room.

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