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

Jan. 04, 2021 12:36 PM ETSoybeans Futures (S_1:COM)
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Hello fellow traders. Another instrument that we have been trading lately is Soybeans ($ZS_F). In this technical blog we’re going to take a quick look at the Elliott Wave charts of Soybeans ZS_F , published in members area of the website. As our members know, ZS_F is showing impulsive sequences in the cycle from the April 808’0 low. Consequently we’ve been calling rally in Soybeans. Recently the commodity made pull back that has given us nice opportunities to enter the long side.

Soybeans ZS_F 1h Hour Elliott Wave Analysis 12.28.2020

The commodity is bullish against the 115'2 in first degree. We advised members to avoid selling ZS_F and keep on buying the dips in the sequences of 3,7,or 11 swings whenever get chance. We got short term (iv) blue that has form of Elliott Wave Zig Zag pattern. The price has already reached equal legs from the peak at 1248'5-1236'6 ( buying zone).We don’t recommend selling the commodity and favor the long side from the blue box area. At this moment we see (iv) blue already completed at the 1245'3 low. However if that level gets broken, then we will measure next set of equal legs from the peak, and will buy the commodity again in 7 swings.

As our members know, Blue Boxes are no enemy areas , giving us 85% chance to get a bounce.

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

Soybeans ZS_F 1h Hour Elliott Wave Analysis 1.4.2020

1245'3 low held nicely during the short term pull back and we got further rally toward new highs as expected. We expect cycle from the 1245'3 low to complete soon as 5 waves rally. Soybeans now remains bullish against the 1245'3 low. As far as mentioned pivot holds, we expect pull backs to keep finding buyers in 3,7,11 swings.

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 Live Trading Room

Elliott Wave Forecast

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

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