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Soybeans/SOYB, Still Looking For The 78.6% Fibonacci Level

ONE44 Analytics - Sun Dec 3, 2023




We did a post about looking for 78.6% the other way based on the ONE44 78.6% rule for March Soybeans, You Can Find It Here. In this post we will show how it looks in the Soybean ETF.

The recent highs on 11/14/23 and 11/21/23 both hit 78.6% back to the 7/24/23 high at 28.80 and when we follow the ONE44 78.6% rule we know that,

Any market that hits 78.6% should go 78.6% back the other way. This is also where a lot of Bull markets end and start.

So, our downside target is 78.6% the other way at 27.10, also in this area is the 26.94 major gann square for added support. We use these two methods (Fibonacci and W.D. Gann) to find the best areas of support and resistance, each of them deal with what we believe is the underlying structure of ALL markets. They can each be used alone, but it is always best if they are in the same area.


Use the 28.43 major Gann square as the swing point for the week.

Above it, look for the next major Gann square at 30.05.

Below it, look for the area of it completing the 78.6% to 78.6% target at 27.10 and the 26.94 major Gann square.

A failure to turn up from 27.10 can send it to 61.8% of the 5/31/23 low and 7/24/23 high at 25.95.

ONE44 Analytics where the analysis is concise and to the point

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.

If you like this type of analysis and trade the Grain/Livestock futures you can become a Premium Member.

You can also follow us on YouTube for more examples of how to use the Fibonacci retracements with the ONE44 rules and guidelines.

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FULL RISK DISCLOSURE: Futures trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Commission Rule 4.41(b)(1)(I) hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. Past performance is not necessarily indicative of future results.

On the date of publication, Nick Ehrenberg did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.