WEAT trade ideas
Wheat is catching up !!!I will keep it to the point-
So we re in Subwave 3 of Major wave 3.
Wave 1 was a diagonal
Wave 2 Retraced .50
Wave 3 in progress -
subwave 1 complete
subwave 2 Retraced .618
Subwave 3 just started
Wheat has a lot of catch up to do compare to others as below:-
long position I am convinced it has bottomed. Volume is historically high with big money stepping in. RSI is showing strength with bullish divergences. Expect a faster rally compare to long historical downward trend to all time high.
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WEAT - LONGFutures: specifically, uranium, commodities (soy, wheat, corn, etc.), precious metals (I know this is a commodities too LOL; silver, gold, copper), gas/oil are extremely sensitive to inflation.
WEAT Looks like WEAT is putting a base in. Definitely not something you'd want to trade but buy and hold seems appropriate.
WEAT Wyckoff Accumulation. www.newtraderu.com
Reference link for data points matching a clear Wyckoff Accumulation occurring in the wheat market (WEAT). This would spell for some much higher food costs in the coming years. Fits narratives of inflation worries in the coming months/years.
Shortages of all grains incoming !! Alert !! $WEAT breaking out of long term downtrend, formed big base-double bottoms, now price finding support at $6.
LONG Wheat in Oct 2020Beautiful 3 drive set up being developed. I'm worried about Shorting an ETF that could go out of business so I'm neutral.
Grains look sour so sit back and wait for a historical entry. Scroll back and look at the symmetry. MACD divergence developing.
There is an entry LONG at the expiration of large ABC, or the 1.27/1.61 of smaller Gartley, or finally the perfect 3 Drive drawn in green.
Please share any ideas related as I am happy to consider other info/views. Super trading everyone!
Is wheat priced because of panic buying of bread and flour?Store shelves have been bought out of bread and flour as people prepared for the pandemic we are in. Is wheat overpriced because of an unexpected demand?
WEAT/Commodities - LONGBLUF : Commodities Long...Play it anyway you want but I like the upside potential and Risk Range(s) of this play, easy to leverage gains/losses....great structure...Let's See What Happens? TW DEAL 15th, JAN Option Friday...get the pullback once your triggers are pulled w/in your range, leverage your risk then sit back and watch!
$WEAT Possible double bottom here, still holding shares.Average is about $5.35, could be a double bottom here, still looking for wheat to go a lot higher in the future.
$WEAT My average in here is 5.37, needs to get above small trendNeeds to bounce above the short trend line, i still see this going up long term bc of all the flooding in the midwest.
$WEAT needs to stay above bottom trend line.will be watching, also have shares of $WEAT. I see a bounce in the future due to what's going on in Nebraska and other states that grow a lot of wheat.
WEAT Long H&SBack form my summer holidays
Potential long on WEAT:
Bullish cloud
Bullish TK cross
Lagging span above price
cloud support
Potential H&S forming
Learning the Ichimoku time theory so day 17 could be influential.
WEAT long idea (NYSE)Wheat ETF set up on the monthly. waiting for breakout of long term downtrend. $WEAT
