- 0
-demo- SB trade closing at market close on a price it never reached
Asked by
Guest thousandaire,
-
-
Posts
-
By tradinglounge · Posted
Soybeans Elliott Wave Analysis Function - Trend Mode - Impulse Structure - Impulse for (5) Position - Wave 1 of (5) Direction - Wave 2 of (5) Details - Wave 1 of (5) completing with a diagonal. Wave 2 bounce is emerging before the price turns downside for 3 of (5). Invalidation now at 1226’6. Not much has changed since the last update. Soybean Price Analysis: Elliott Wave Perspective Signals Continued Downward Trend In the realm of commodity trading, Soybean has recently undergone a significant downturn, marking a nearly 7% drop since March 21st. This decline appears to be part of a broader trend that commenced back in June 2022. However, before this recent descent, there was a brief period of respite characterized by a corrective bounce starting in late February. Delving deeper into the price action, an Elliott Wave analysis sheds light on the intricacies of Soybean's movement. The daily chart's decline since June 2022 reveals a corrective pattern, delineated into waves A-B-C, as denoted by blue annotations. The initial wave, labeled as Blue Wave 'A', terminated at 1249 in October 2023, exhibiting a distinct diagonal pattern. Subsequently, a modest rebound ensued, marked by Blue Wave 'B', which concluded at 1398 in November 2023. However, the ascendancy was short-lived as the bears regained control, manifesting in the ongoing development of Blue Wave 'C'. This wave, evolving into an impulse wave, has currently progressed to wave (5) following the completion of wave (4) in March 2024. Zooming in on the H4 chart, a granular analysis reveals the sub-waves of wave (5). Wave 1 of (5) concluded with a diagonal structure, followed by a corrective phase as the price undergoes a temporary upside correction to complete wave 2. Despite uncertainties regarding whether wave 2 has fully concluded or will undergo another upward leg, the overarching trajectory remains clear – a downward break is anticipated to continue wave 3 of (5), leading to further downside movement. In light of this analysis, the prevailing sentiment favors sellers, who continue to assert dominance over the commodity market. As long as the price remains below 1226’6, the outlook remains skewed towards further downside potential, with the possibility of reaching the lowest price point since November 2020. In conclusion, the Elliott Wave perspective offers valuable insights into Soybean's price dynamics, signaling a continued bearish trajectory in the near term. While short-term fluctuations may occur, the broader trend suggests that sellers are likely to maintain control, shaping the commodity's price action in the foreseeable future. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here! -
Thanks for sharing @CryptoSaint -
-
Question
Guest thousandaire
Hi Everyone, first question here so go easy with me
So it is on a spread betting demo account so no damage is done.
After FOMC report tonight I opened a short on $CAT opened @ 125.12 so come the close @ 122.28 had a nice healthy (faux) profit. Logged in shorted after close to update SL etc on my open trades. $CAT is closed 21:01 with a closing price of 127.37 ?? Trade was well into profit nowhere near the listed close price.
Again fake money so no harm. I just want to understand what I missed? $CAT is listed as (all sessions) could it be liquidity issue out of hours?
Any help greatly appreciated as I am looking to move onto full account in Jan. Up to now no issues but this one threw me as to possible reason?
Link to comment
0 answers to this question
Recommended Posts
Archived
This topic is now archived and is closed to further replies.