Soybeans and Fibonacci, Analysis/Targets

Soybeans

The chart is key to this analysis.
(ZSK25) 

Before we get to what to look for now, it is important to understand when the trend turned up and what stopped it up top, all of this is based on the Fibonacci retracements with the ONE44 rules and guidelines. This analysis was given to our Premium Members before it happened.

On 1/9/25 the market was coming off from a 23.6% retracement on 1/2/25 at 1023.00 and this is what we said,

We will be using 38.2% back to the 12/19/24 low at 1000.00 as the swing point for the week.

Above it, the short term target is 23.6% back to the 5/7/24 high at 1040.00. The long term target area is the 1083.75 major Gann square and a combination of 23.6% back on the continuation chart and 38.2% back to the 5/7/24 high at 1092.00.

It held 38.2% at 1000.00 and this was when the short term trend turned positive and we gave the long term target area above between 1083.75 and 1092.00.

In our 1/16/25 update we said,

May

From last week,

We will be using 38.2% back to the 12/19/24 low at 1000.00 as the swing point for the week.

This market also held 38.2% and a sharp rally followed up to 1076.50, the last three days have setback to the 1031.00 major Gann square, this is also 38.2% back to the 12/19/24 low and it will be the key level for next week.

Use 1031.00 as the swing point for the week.

Above it, the long term target area is the 1083.75 major Gann square and a combination of 23.6% back on the continuation chart and 38.2% back to the 5/7/24 high at 1092.00. The short term target is....

 In our 2/6/25 update we posted this,

From last week,

The combination of longer term retracements above at 1092.00 still could send this market back to test the low. The setback so far is  holding 23.6% back to the 12/19/24 low at 1057.00 which is a very strong sign, this will be the key level for the next week.

Use 1057.00 as the swing point for the week.

 Above it, provided this is all it can setback after getting into the 1083.75/1092.00 target area, look for a quick rally to a new high. You will still have to watch for a trade up to, or above 1092.00 and then a close below the 1083.75 major Gann square, doing this can cause a sharp selloff. Above....

It did trade below the 1057.00 swing point for the week, but never closed below it. The rally from it hit the long term combination of retracements at 1092.00 and then closed below the 1083.75 major Gann square. We will see if this area sends the market sharply lower. We will also watch all of the retracements on any setback to see just how weak, or strong the market is. The key level for next week will be the combination retracement level at 1092.00.

Use 1092.00 as the swing point for the week.

Below it, with the combination of longer term retracements at 1092.00 a quick selloff is still possible, provided there is, the long term target area is 78.6% at 984.50 and the 977.75 major Gann square. Any setback that holds 38.2% at 1040.00 keeps the short term trend positive and a new high can quickly follow.

As you can see on the chart it turned lower from two key long term retracements at 1092.00 and the 1083.75 major Gann square, keeping the Intermediate trend negative. The break from there held the short term swing point at 1040.00 (38.2%), however it could only rally 25 cents and is now below 1040.00 turning the short term trend negative too.

NOW

Use 1040.00 (38.2%) as the swing point for the week.

Above it, right back above it can send it to a new high, the short term target area is 78.6% back to the 2/5/25 high at 1078.00 and the 1083.75 major Gann square.

Below it, look for the long term target area mentioned above between 78.6% at 984.50 and the 977.75 major Gann square.

We hope this shows you the importance of adding Fibonacci retracements with the ONE44 rules and guidelines to your analysis.

We have done 45 videos on how to use the Fibonacci retracements with the ONE44 rules and guidelines. These Videos are worth watching even if it is not in the market you are trading, as the ONE44 rules and guidelines are the same for every market. You will also see why we believe the Fibonacci retracements are the underlying structure of ALL markets.

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Our goal is to not only give you actionable information, but to help you understand why we think this is happening based on pure price analysis with Fibonacci retracements, that we believe are the underlying structure of all markets and Gann squares.

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