Wheat
Wheat on the side while riding goldHey, I've been looking at grains a bit and I think wheat could be going down.
On a pullback there is a good r to r.
It is on a global downtrend and it convincingly broke to new lows on the lower TF.
It sort of always goes down around this period
Global trade & weather have a big impact I guess.
Here you can see the past weather: www.timeanddate.com
Here are averages: www.holiday-weather.com
Chicago is in the averages. Most places are below, France has had a freezing summer brrr.
The weather data is obviously run by climate deniers.
The CME website: www.cmegroup.com
The biggest producers of wheat are the same old same old... China USA India Europe South-South-America. And to a lesser extent pretty much everywhere except Africa.
Some of the top biggest exporters are Russia Canada the USA France Argentina Ukraine...
Argentina I think is the biggest net exporter there is in % of what they produce. India is self sufficient, China is barely I think.
I could list all the net exporters but it's easy to remember. It's the white countries.
Basically the most important weathers I think are NA & Europe.
And China news/catastrophic crop ==> boom.
Probably will trend down, hopefully without too much choppy pullbacks.
Would be nice to look at something other than gold here and there.
US Wheat futures ( ZW1!) - Stay Long - Simple zigzag patternUS Wheat futures ( ZW1!) is in ABC zigzag in 4 hr chart from last major low as shown on the chart. It has completed impulse wave A and B wave as complex wxy correction, where w and y both are zigzag in nature. B wave is now over. So C wave will be the next big up move expected, which is an easy swing trade as per Elliott wave set up.
Wait for confirmatory impulse in 10 min time frame for reference and deciding stops loss as low to get in to trade for C wave. Once you get in to trade then stay in to trade till the price crosses the high of wave A.
ZW NOW
ANGLAIS :
Hello wheat is now in oblique resistance and in fierce descent, but if it breaks the blue resistance, the wheat will return to its original price and rise more and more
FRANÇAIS :
Bonjour le blé est maintenant en résistance oblique et en descente féroce, mais s'il casse la résistance bleue, le blé reviendra à son prix d'origine et augmentera de plus en plus
Intermarket Spreads index ETF commodities etc / Hello
Update ONLY - Intermarket Spreads index ETF commodities etc /
I Believe the sp vs DOW spread is the most profitbale for me at the moment. I will stick with it.
Intermarket Spreads index ETF commodities etc /
the ZW1! Preparing to flyIt seems that there's a big probability over 90% that the ZW1! is preparing to fly today. and this probability is verified by the most important and Fundamental line in this chart.
Update ONLY - Intermarket Spreads index ETF commodities etc / Hello
Update ONLY - Intermarket Spreads index ETF commodities etc /
I closed my spread SP500 vs DOW30.
Thank you.
Rally in wheat is not done yetWheat futures rallied last week as it was expected. Congrats on your profits! Wheat is one of my favorite instruments. It follows setups very well. Many traders focus on more volatile instruments. But that is wrong. As traders, we have to be focused on a less speculative instrument that gives a better risk/reward ratio. I believe the price will retest recent highs near 570. But this market needs some breath. It is overbought on smaller time frames. However, Wheat is a very tight market. Usually doesn’t give big pullbacks. I continue to look for and take buy signals in this market.
WHEAT FUTURES ANALYSIS FOR THE NEXT WEEK!ZW REACHED A STRONG RESISTANCE, I EXPECT IT TO GO DOWN IN THE NEXT WEEK. YOUR THOUGHTS?
Potential rally in wheatBased on COT reports commercials are long wheat. They are correct 98%. It may take time to form a buy signal. But with that in mind, we look for buy signals - whatever happens first
- break out of daily resistance
- lower high + oversold oscillator
- divergence (I use RSI and OBV)
ZW1! Technical analysisPrice has reached a target zone, so there may be a short term corrective move up to some sweet spots where the daily short trend may resume. Targets are indicated in magenta, short trend is valid until price closes above the green zone on the daily.
WHEAT - new trade alert!New trade displayed by our strategy, very clean trends on Wheat using our strategy so lets see how this plays out with a 1:4 RR based on ATR.
Thanks
Darren
Get Wheaty!Went production domestic is down 20% for the year. Great technicals and fundamentals. As they say its hard to find the needle in the hay stack and feel this one is great risk reward for the gambler! Let me know your thoughts!
