W1
Facebook (FB) Timeframe: W1
Indicator:
10SMA - Entry point
50SMA - Check trend (If price under 50SMA(Bearish trend) , if above 50SMA(Bullish trend and we looking for buy)
TRADER DINAMIC INDEX (Green/Red) - Check entry/exit point as well
In a chart price is above 50SMA, so we looking for buy signals
TRADER DINAMIC INDEX red line cross green line from bottom.
When price cross 10SMA we need to buy. STOP LOSS 3% / TAKE PROFIT 10%
If price no touch take profit and TRADER DINAMIC INDEX cross from above need close position with profit or loss.
Wheat -- near long opportunityProbably soon there will be nice long opportunity, at least for correction. Closely watching & bought small part for medium term.
C wave as an ending diagonalThe C wave correction ended at 0.382 fib (yellow) of the previous impulse down. Looking for continuation of down move to 1.272 fib (yellow). Wheat doesn't give much chance to enter, once it drops, it drops quick. So don't miss it.
Wheat descending wedge!Wheat appears to be nearing the completion of a major ascending wedge that spans 4-5 years. Best way to take advantage of this would be a wide entry with a safe stop once a bottoming pattern appears on the daily/weekly. My guess is we won't see a bottom until late 2016 or maybe early 2017.
Martin Armstrong has posted about the global *cooling* (not warming) that should begin to impact crop production sending prices sky high. This data adds quite a bit of fundamental confluence on top of the beautiful techs, making the trade even more enticing.
Jim Rogers also sees agriculture *prices* improving in the future in his recent interview with Real Vision TV. He has been saying this for a few years now but also admits he's often VERY early to a trade.
I'll be watching this trade closely for a bottom, going to be a good one!
Possible Divergance on WheatI don't trade wheat and won't be taking this trade. I just want keep an accurate log of this idea.
The spreads have stopped dropping and are rising while the front month price has continued to sell off. In addition the price of wheat has been in a steady downtrend with in increased rate downward lately, so may be a climax of selling.
Seasonally wheat should bottom mid august to late September.