6-4-08: Soybeans Trade Setup (Futures, Commodity, Ichimoku)

Soybeans looks like they are almost finished consolidating and ready to start moving up.   Slowly they have been making a bearish move again after the last major pull back.
Below is the chart with the Entry, Stop, and Profit targets.    Right now, the risk is huge but we want to make sure we don’t get stopped out on the same day we enter the trade.   The stop will be adjusted once the trade is entered.    Currently, the stop is the Tenkan Sen minus a buffer.
soybeans_6_4_08_daily.jpg
For EDUCATIONAL USE.    Commodity Futures Trading Comission, Forex, Futures, Equity and options trading has large potential rewards, but also large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provide d on the Blog is for educational purpose

About the Author Manesh Patel