RT Swing Trader Blog | News
20Oct/090

Bullish TR swing pattern in December Soy meal

December Soybean meal – The four-day setback has formed a new reaction swing pattern and the final segment of a bullish TR swing pattern after finding support above the 20-day MA and turned higher.  Over the last few days, Soy meal staged a strong rally, as it broke out of the longer-term continuation pattern. The current correction is forming a potential bullish “setup” for a longer-term buy signal.  Buy Soy meal at 302.50 stop, with a stop loss at 289.00

December Soybean meal

December Soybean meal

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20Oct/090

December Soybean oil

December Soybean oil – Long from 35.59 – last price @ 37.59 –Soybean oil continued the upward climb during Monday’s session as weather concerns keep supporting the soybean complex. Traders will be keeping a sharp eye on Monday afternoon’s Crop progress report more insight into harvest progress. - Hold the long position, with the stop loss at 36.40.

December Soybean oil

December Soybean oil

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19Oct/090

Bullish swing trade “setup” in December Soy meal

10/19/09 - 10:54 am MST - A bullish reaction swing is forming above the 20- day SMA. If confirmed, this pattern will also confirm the longer-term TR swing pattern and trigger a buy signal.

December Soybean meal

December Soybean meal

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16Oct/090

Bulish swing pattern in November Soybeans

November  Soybeans – A bullish TC swing pattern has formed under the ascending centerline. This is the final segment of a bullish TR swing pattern that could confirm the beginning of a new bullish reaction cycle.  Buy Soybeans at $10.13 ½ stop, with a stop loss under the (D) swing low.

November Soybeans

November Soybeans

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16Oct/090

Bullish swing pattern froming in Soybean meal

December Soybean meal – The three-day setback has formed a new reaction swing pattern and the final segment of a bullish TR swing pattern. I look for a little more of a pullback to test support at 285.90. Over the last few days, Soy meal staged a strong rally, as it broke out of the longer-term continuation pattern. The current correction is forming a potential bullish “setup” for a longer-term buy signal.  Buy Soy meal at 285.90 or lower, with a stop loss at 275.00.

December Soybean meal

December Soybean meal

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16Oct/090

December Soybean oil

December Soybean oil – Long from 35.59 – last price @ 36.78 –Bean oil traded low enough to trigger the buy signal at 35.59, before turning higher and traded below the low of Wednesday’s “inside day” to trigger the buy signal.  Hold the long position, with the stop loss at 35.40.

December Soybean oil

December Soybean oil

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15Oct/090

Bullish TC swing pattern “setup” a new buy signal in Nov Soybeans

10/15/09 - 9:45 am MST - November Soybeans have staged a significant rally over the past few days. After gaining over $1.35 in just six days, Soybeans reached the projected descending reaction line target objective one day after projected reversal swing day. In  a good example of time and price confluence, Soybeans reversed and dropped over 40-cents in two days. However, the price action is forming a bullish TC swing pattern "setup" for a new trade signal.

November Soybeans

November Soybeans

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14Oct/090

December Corn & the reaction line

December Corn – Long from $3.43 – last price $3.81 ¼  – December corn straddled the ascending centerline and closed slightly above it, as it tries to build enough momentum to push higher into the October 19th reversal swing day and the descending reaction line target objective of $3.90 . - Hold the long position and keep the profit stop to $3.72.

December Corn

December Corn

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13Oct/090

November Soybeans reach target objective!

10/13/09 - 9:05  am MST - After posting a low of $8.78 3/4 on the October 5th reversal swing day, November Soybeans futures have closed higher 5 days in a row, gaining over $1.34 in during that time. The reverse/forward count was used to project a minor reversal swing day for Monday, October 12 and a price target objective of $10.13.  On Tuesday, October 13th--one day after the projected reversal swing day--November Soybeans have traded to a high of $12.12 1/4 before backing off to $9.93. This is a great example of Time and Price confluence in the markets.

November Soybeans

November Soybeans

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13Oct/090

December Corn

December Corn – Long from $3.43 – last price $3.81 ¼  – December corn closed up 19 cents after several northern Midwest states experienced snow, rain, and freezing temperatures over the weekend. December Corn breached the old high at $3.76 and closed above the ascending centerline.   Hold the long position and raise the profit stop to $3.72.

December Corn

December Corn

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