Soybeans have been on a tear for over a month now. Apparently weather is to blame around the world. Too much rain in some countries and too little rain in others. China has just released tons of Soybean from their reserve supplies to help fill the growing gap.
Word is it's going to be Mid March at least before there could be any relief. By then, I believe my Alligator Indicator will almost be up there in my Sell Area of 1520.
Note the second wise man circle a few weeks back?? Usually, BUT NOT ALWAYS, indicates a possible sign of price reversal?? This is one of those times where price did not reverse and price just kept on going up. This is why we must trade with our 5 rules, always using good money management.
I will keep you updated - I'm hoping once price starts to fall, it will fall heavily so we can make some good money :-)
HEIKO
Word is it's going to be Mid March at least before there could be any relief. By then, I believe my Alligator Indicator will almost be up there in my Sell Area of 1520.
Note the second wise man circle a few weeks back?? Usually, BUT NOT ALWAYS, indicates a possible sign of price reversal?? This is one of those times where price did not reverse and price just kept on going up. This is why we must trade with our 5 rules, always using good money management.
I will keep you updated - I'm hoping once price starts to fall, it will fall heavily so we can make some good money :-)
HEIKO
