Just as you can extract oil from soybeans, you can extract money from the market trading soybean futures.
Soybean futures have had a large price move to the upside over the past two weeks. The price is currently just below strong resistance at 1350 and is displaying classic congestion. (See the yellow dotted lines).
There is a Hawkeye pivot (yellow dot) pushing the market down and both daily and weekly Hawkeye Volume algorithms are showing selling (red arrow).
The Hawkeye Perspective
If you are long, lighten up your position. If you are in no trade, wait for the congestion zones (yellow dotted lines) to be broken… but if they are broken, it must be with red selling volume on the daily and the weekly charts, showing that the bias is to the downside.
Trading any market without education on the six ways the market moves is like walking into a casino with a stack of dollars – you’re relying on luck rather than a methodology.
Learn the “Six Ways a Market Moves,” the key to being a great trader, at the next Special 3-day Hawkeye Seminar in Santa Ana, CA in September.
Click here to express your interest in the seminar.