I only started watching Soybeans because of poor fundamental news. Bumper crops, tariff issues. etc. (I don't trade futures often) I noticed an incredible run up...seeing a shooting star develop on the daily PLUS price is at significant levels, pivots, ema's etc. I am taking the short at the 61.8% Fib level. Lets see how this trade rolls out. 1% Risk, 2:1RR - Happy Trading!
Trade closed manually
I got out of this trade, I keeping seeing such terrible fundamentals against my trade to the downside, issues with flooded fields, farmers requesting insurance for difficult growing conditions etc. Best to get out, and focus on more high probability trades. Technically the trade is sound, we can't control anything but our risk.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.