Hi there. Price is forming a continuation pattern to the downside. Wait for the price to hit the top of the pattern and watch strong price action for sell. Don’t take a trade if you don’t see clearly when big guys are in.
Hidden bullish divergence plus fibonacci retracement, looks bullish.
Wheat has failed 4 weeks in a row to break the 525 price barrier - the weekly MA20 which is in negative direction! If we look at the shape it seems that we will head up, but there are several reasons why we should consider shorting: Weekly MA 20 just above 525 with negative direction Daily MA 50 just above 525 with negative direction We are in decline on the...
Been bullish on Wheat -0.18% already for some months. We're in a small consolidation on the longer term but watching for a short term continuation trade going bullish . Watching for a buy below 5.020 with a target up into 5.065 for the day based on support at the 5.000. Peace, love, and sweet bamboo, tbp Note: All ideas expressed here are presented solely...
Price made an impulsive break through the 100SMA, should retest at at some point, perhaps after hitting the 38.2% fib level. This offers new entries or added positions. Let's see.
I am not a fan of commodity trading but it comes down to opportunity I take whatever is available. Here is the picture of fresh supply and demand zones in wheat which can be played out with proper risk to reward. Remember trading is only easy when you consider risk to reward like any other business. Cheers :)
Why Wheat and why now. What about Soybeans and Corn. Looking across the Ags, it seems that Wheat is enjoying the most upside. Why is this. In keeping with my focus on the DMI and ADX, I think you’d have start by looking at the monthly chart of the 3. One of the key tenants of DMI/ADX is that best trades seem to originate when the ADX is below 20 for an...
So far, I’ve focused on how to get into the market based on the DMI swap in dominance between the +DI and -DI. Once you’re in or if you missed the original entry, how can you get into a trend while minimizing your risk. As I’ve noted before, I’ve not been able to successfully trade on a regular basis but my hope is to use everything I’m documenting here to...
Setting up a trade based on daily signal using 4 hour chart for timing. In this scenario, the daily chart had its ADX below 20 since July 3rd. When trading with DMI/ADX, periods of breakout after the ADX has been below 20 for at least 7-10 periods can provide good results. In this case, the 4 hour chart had dropped below 20 for an extended period too. On July...
We will publish a detailed forecast and analysis on our web tomorrow. Targets as described in the chart. A few formations we see on the bigger picture.. we will update soon.
According to daily time frame it looks like $WHEAT is making support and preparing a change of trend.
Technical analysis Great opportunities to short wheat at the key 0.618 fib level for a big move down all the way to 4.2820 at the 0.236 fib level. Minimum draw-down with stops placed safely above the summer highs. Entry: 5.3540 (On the 0.618 fib level) T/P: 4.2820 S/L: 5.6540
Looking at wheat zw1! across three charts (renko 10pt, 5pt, and 1pt), it looks like they have achieved some type of confluence and are staged to break higher. Entry setup would have been on the 1pt chart on the 27th with the second test of the 100EMA. However, I'm looking to enter long based on how market opens this coming week. Targets are 510 and 550 on the...
Commodity market long therm looks like bulls want to take control, moreover commodities are the best performer out of different asset classes during rising inflation period. On WHEAT I will be waiting for pullback, and then next cycle to the upside targeting upper descending resistance line, looking for the same pattern as in SOYBEAN.
We initiated a short position on wheat futures through OANDA platform on daily chart, based on constructive price action pattern and some fundamental indications that the extreme cautions about the 2017 wheat production are way too exaggerated. As the summer progress we see increasing downside pressure and possible good profit opportunity. Our Reward/Risk is 1,...
Last break above downtrend line gives hope for a change of sentiment. Right now the price is closing correction. It is also possible move a litte bit lower, around 4.00. Suggests a split positions and follow the WASDE report today which will give us an answer what's next.
Is this too easy to predict using a charting principles or will wheat follow and break out later in the year? Wait and see.