HTF 4h shows ZL in a clear uptrend from ~60 in late Feb to highs near 70.4, with each pullback finding buyers at higher lows. Price pulled back from the 70.4 HTF high to ~65.5 area Apr 13-14, then aggressively recovered — the April 16 session saw a strong breakout day with high volume (10k+ on the 08:00 bar) pushing from 68 to 69.5. Current LTF action on Apr 17 shows a healthy pullback from the 69.5 high back toward 68.0-68.1, followed by a weekend gap-up open Apr 20 at 68.86 and steady grind higher to current 69.42. The 68.5-69.0 zone is the breakout-turned-support level from the Apr 16 move. Symbol context confirms soy oil outperformance with biofuel/export demand. Entry at 69.0 on any minor dip toward that support level with stop below 68.5 (prior breakout base), targeting retest of 70.2-70.4 prior highs. R/R ~2.4:1. Volume on the recovery is constructive. No imminent catalyst risk visible.
📍 Entry: 69
🛑 Stop: 68.5
🎯 Target: 70.2
⚖️ R:R: 2.40
📍 Entry: 69
🛑 Stop: 68.5
🎯 Target: 70.2
⚖️ R:R: 2.40
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monk.trade — Trade setups and market intelligence
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.