Soybeans Futures ( $ZS_F ) Forecasting The Path & Selling The Rallies

In this technical article we’re going to take a look at the Elliott Wave charts of Soybeans Futures ( $ZS_F ) presented in members area of the Elliottwave-Forecast . Soybeans Futures has a incomplete bearish sequences in the cycle from the May peak. We got a short tern recovery that has unfolded as Elliott Wave Double Three. It  has given us opportunity to enter short trades again. In further text we’re going to explain the forecast ,Elliott Wave Pattern and trading strategy.

Soybeans Futures ( $ZS_F ) 1 Hour Elliott Wave Analysis 10.04.2021

Decline from the 1297’0 peak looks to be unfolding as 5 waves structure. We are about to complete short term cycle as wave ((i)) and expect to see recovery ((ii)) before further decline takes place. We don’t advise forcing the trades at this stage.

Soybeans Futures ( $ZS_F ) 1 Hour Elliott Wave Analysis 10.07.2021

Cycle from the 1297’0 peak ended as 5 waves structure. At the moment the commodity is giving us ((ii)) recovery.  We got 3 waves reaction so far , but still believe that was only first leg of correction. We expect another leg up to take place to complete ((ii)). First leg of recovery (w) has corrective structure, while (x) connector hasn’t been very deep so we assume ((ii)) recovery has form of Elliott Wave Double Three Pattern. We expect another 3 waves up in (y) blue leg . Although expecting more upside in near term, we recommend members to avoid buying, and wait for marked area to be reached before selling it.

You can learn more about Elliott WaveDouble Three and Zig Zag Patterns at our Free Elliott Wave Educational Web Page.

Soybeans Futures ( $ZS_F ) 1 Hour Elliott Wave Analysis 10.08.2021

We got another leg up as expected. The price has reached 1258’7-1274’5 – sellers zone. There is already enough number of swings in the short term rally from the low and wave ((ii)) recovery can be already done as Elliott Wave Double Three Pattern with (w)(x) (y) inner labeling. We are favoring the short side from the blue box. Invalidation level for the trade is break above 1.618 fib extension (1274’5). As the main trend is bearish, we expect to see 3 waves pull back from the blue box at least. As soon as the price reaches 50 fibs against the (x) blue connector, we will make short positions risk free( put SL at BE)

Soybeans Futures ( $ZS_F ) 1 Hour Elliott Wave Analysis 10.11.2021

Sellers appeared at the blue box and we got good reaction from there. The decline from the blue box reached 50 fibs against the (x) connector, as a result short positions from the blue box are Risk Free and partial profit are taken. Break of 10/05 low – ((i)) black is needed to confirm next leg down ((iii)) black is in progress.

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.