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Wheat

WHEATUSD waiting price to reach decision levelWheat after our recent profitable prediction (pls refer to previous published idea) is now looking for a direction in my opinion. It failed yesterday to break the $5.42-5.43 level so now we have a stong 4h bearish candlestick. Still I'm unsure what the outcome will be. The MACD 4h took a turn and is now approaching the signal line with momentum to go bearish. However I'm monitoring price at the 4h time frame waiting to see what will happen when/if the price reaches the support lever of ~$5.34. That's why I named it DECISION LEVEL. Depending where the price will go and how it will go to wherever it goes, I might be able to base my trades. So let's wait and see what happens. I just love the markets! :-) Note: I'm no trading expert nor have the ambition to become one! The above is just an idea that I share with the intention of attacting comments and perhaps become better at trading commodities.
OANDA:WHEATUSD
by A_Bouras
Rally in Wheat will continue. Possible entriesYou know I am a big fan of commodities and especially tight markets like wheat, live cattle, etc. These instruments are less manipulated and less speculative. Usually, they follow their setups very well. Getting above Friday’s high is potential swing entry. We have a triangular formation on the daily chart. Sometimes price makes false breakdown before the rally. So, it is another potential entry, if that happens. Wheat has a strong seasonal tendency to rally till September.
CBOT:ZW1!Long
by UnknownUnicorn1156963
Wheat market is now at the weakest stage. Time to short.We are long the PUT options since 535 - we wanted to limit our risk. Now it is safe to short the futures, as the market is very weak technically and fundamentally. Sell on a CLOSE below 492.25, stop loss on a CLOSE above 507. 435 is the price target. I have been travelling around the wheat region in Russia last week - observing the crops, talking to farmers. Planted area this year is very large and most of the crops survived and are looking healthy. Weather conditions are excellent. Prices as low as 416 and 381 could be reached if we see our preliminary target reached before August 31. *Please remember that futures trading involves a substantial risk of loss and is not suitable for all investors.
CBOT:ZW1!Short
by CSInvestment
5
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.
CBOT:ZW1!Short
by MrRenev
2
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.
CBOT:ZW1!Long
by EWFcw