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ZW1! trade ideas

Wheat Futures (ZW1!), H4 Bearish DipType : Bearish Dip Resistance : 1075'6 Pivot: 1036'6 Support : 982'0 Preferred Case: Prices have approached our Pivot at 1036'6 in line with 61.8% Fibonacci Retracement . We see the potential for a dip from our Pivot at 1036'6 towards our 1st support at 982'0 in line with 61.8% Fibonacci Projection . Prices are trading below our ichimoku cloud resistance, further supporting our bearish bias. Alternative scenario: Price might continue to climb towards the 1st resistance level of 1075'6 in line with 100% Fibonacci projection . Fundamentals: No Major News
CBOT:ZW1!
by Tickmill
Wheat Futures (ZW1!), H4 Bearish DipType : Bearish Dip Resistance : 1075'6 Pivot: 1036'6 Support : 982'0 Preferred Case: Prices have approached our Pivot at 1036'6 in line with 61.8% Fibonacci Retracement. We see the potential for a dip from our Pivot at 1036'6 towards our 1st support at 982'0 in line with 61.8% Fibonacci Projection. Prices are trading below our ichimoku cloud resistance, further supporting our bearish bias. Alternative scenario: Price might continue to climb towards the 1st resistance level of 1075'6 in line with 100% Fibonacci projection. Fundamentals: No Major News
CBOT:ZW1!Short
by Genesiv
Wheat - 2 long / 2 Short scenarios - Good bread takes timeGeneral Wheat seems to generate a nasty SFP. It took out the recent Swing High and then dropped over 22%. With the monthly close coming soon i could image it going lower before finding support. I marked 4 Scenarios which i would be happy to take either. 1. Long (Blue arrow) Price moves to the red rectangle (area 1), finds support and "generates a swing". Price goes lower before breaking above the generated swing where i would then look on a LTF for an entry. Target: A bit under the range high SL: Depending on the LTF entry i wouldnt want to see it going lower than support Invalidation: Price breaking under area 1 Time duration: Days, weeks, months, years... ;) 2. Long (Orange arrow) Price moves under area 1 but manages to retake it. Enter on retest of area 1. Target: A bit under the range high SL: A bit under area 1 Time duration: Days, weeks, months, years... ;) 1. Short (Red arrow) Price moves under area 1 aswell level 2. Enter on retest of level 2. Target: The next big support level (Also in confluence with the 50% of the lower range. SL: A bit above level 2 Time duration: Days, weeks, months, years... ;) 2. Short (Yellow arrow) Price breaks under area 1. Enter in LTF on retest. Target: The next big support level (Also in confluence with the 50% of the lower range. SL: A bit above area 1 Time duration: Days, weeks, months, years... ;) Good luck
CBOT:ZW1!
by a_tale_of_bulls_and_bears
ridethepig | Wheat for the Yearly Close📌 @ridethepig ZW1! Market Commentary 17.12.2020 For buyers the breakout creates the typical starting point, one we have seen many many times before. The fact it is happening on the monthly chart is very telling, this is threatening to impulsive explode to the topside via shortages on the supply side from lockdowns and contractions in globalisation. Whatever may be the case on the climate side (and I am certainly no expert here) it has been one of the biggest crops on year for Russia. Fertile farming at its best... Tracking closely the 600 support, for a move towards 900 and 1350 ... watch out for any battle against this in the coming weeks as we enter into a commodity cycle. Thanks as usual for keeping the feedback coming 👍 or 👎
CBOT:ZW1!Long
by ridethepig
3
Re-entry long on CommoditiesAll commodities on my watchlist www.tradingview.com are still long. yes there was a take profit on wheat on oil below prior days low (usuaylly two days low but because of bars ranges that a much higher than prior day I am using a 1 day trailing stop) Buying new highs on the 5 min chart below prior days low is a valid re-entry pattern. Will we reach new yearly highs? I dont know but we can see that at least a double top should be possible or at least a rally up to 50% of prior down move...
CBOT:ZW1!Long
by responsibletrad8r
Just how deep is the rabbit hole we're peering into?Anyone been to the grocery store lately? Filled up your car with gas? Bought electrical wire at Home Depot? Tried to buy a house? Have you noticed anything? "Transitory" inflation is chomping through all the liquidity infused into the world the last two years. Printing dollar bills doesn't create wealth - it dilutes it. We printed how many trillions of dollars over the stimulus packages, Fed bond buying, and whatever else? Inflation can be succinctly summarized as "more dollars chasing fewer goods". Well, with the last two years we've burned the candle at both ends; we infused massive amounts of money into the system (with no associated productivity gains) and manufacturing grinded to a halt worldwide. So we have all sorts of dollars and nothing to buy. Anyhow, you are all aware of this.....but you may not be aware that we may not even be near the peak of inflation yet. The first chart up there is wheat futures, and you can see it's gone buck wild the last 30 days. What's next? Here we have oil, the backbone of a LOT of stuff, not just gasoline. You know all those goods you need to buy? They have to be transported. You know all the plastic we consume? It is made using oil. Next chart is corn. Me likey corn. Even if you don't like straight-up corn chances are you DO like lots of things made with it. What else can we find. Oh yeah, lumber. Hard to build stuff without it, eh. Continuing on.... to... Natural gas. Next up... (throwing a dart blindfolded). Copper. Have you tried to buy wire lately? Holy crap. I mean the stuff has security tags on it at Home Depot and Lowes. Even things like Gold and Silver, which a lot of people invest in, are actually used as materials in the things we buy. Anything with circuit boards in it will have gold. And yes, people actually do harvest gold from circuit boards! My point with all of this is that life is about to get a LOT more expensive. What will that do? It'll cause Consumer Confidence to crater. This means people will scale back from unnecessary purchases, vacations, etc. Considering our entire US economy is based around consumer spending, a cutback in this will have a profound trickle-down effect. The Fed, in my opinion, has zero choice but to aggressively raise interest rates. It's in all of our best interests that they do that, or whatever else needs to be done to try and shove the inflation genie back in the bottle. Hopefully some of it takes care of itself, because inflation itself erodes the money supply......and as Covid subsides manufacturing bottlenecks should lessen. Still, have you ever been backed up on the freeway in traffic, only to realize that there was no actual reason for the backup? There was likely an accident or some incident earlier, but even long after that has been remedied the backup will remain. So even if manufacturing went back to full capacity this moment, we'll be looking at months and months until it starts to show up in the data. The economy is like one of those massive container ships that are 1300 feet long. MASSIVE inertia. This is why the inflation problems didn't even really show up for over a year after we started printing monopoly money. Unfortunately for us, inertia is a two way street - it's going to take a long time for monetary policy changes to have their intended effects. So the Fed is at a great risk of either coming down TOO HARD on inflation, or not coming down HARD ENOUGH....and we won't know for months. My guess? They somehow screw something up. It's not really their fault, because they are being tasked with an almost impossible situation. Powell isn't incompetent and he's surrounded with the smartest economic minds in the world, armed with more data than we know what to do with. The truth is the economy is just so complex that it has an incredible amount of variables and we really don't know what will happen when we tinker with some of them. We know what SHOULD happen, or what MIGHT happen, or what HAS happened..... but as everyone involved in the financial markets knows this doesn't guarantee a damn thing going forward. Me personally? I think the Fed drives us into a recession. It may be the only way to get ahead of inflation before it becomes a self-fulfilling runaway freight train. .....and what do you think this means for QQQ, DIA, SPX, IWM?
CBOT:ZW1!
by digital_precision
115
Mar 7, 22 Wheat back up - BUY OppWheat came down for the first time in over 5 sessions so I was looking for a pullback and then I could hopefully get into a Buy Order. I did put in a Buy order at 1250 less than an hour ago. Markets are crazy wild with prices moving a lot. Like I have said all day today, I believe over the next 2 weeks Wheat and Corn will continue to go up. Definately there will be some volatility, but I think price will go up and I will make some money. I will keep as close an eye as I can on these trades (I have to sleep sometime), but I will keep my stops further away for these trades so I don't get caught. Trade well and stay safe. Heiko
CBOT:ZW1!Long
by HEIKOTradingSystem
More money for same amount of food now !read article here Yes, we will need to make more money to purchase the same amount of food than before as the price has gone up or inflated. Whatever the reasons you like to believe to cause the inflation, the outcome is the same - you will need more money than before to purchase the same amount of food. Options you have ? Substitute the food for a cheaper brand or reduce the amount of intake. Or eliminate it from your diet. Or you could find ways to make more money so your lifestyle is not so affected. To me, investing, trading is a very good way. I wish I was much much more financial savvy in my teens instead of spending money on branded stuff and lots of pretty useless stuff, haha.
CBOT:ZW1!Long
by dchua1969
Wheat: extreme levels and it will continueIt doesn't matter its overbought, the price continues rising. The war can create one-time only events in the markets. We've seen the Russian Moscow Exchange closed for more than 1 week, USD/RUB skyrocketing and commodities such as Wheat going up completely out of control. We bought Wheat more than a year ago and we've added more volume as the uptrend continued, but seeing these events, we increased even more volume 2 weeks ago and we will continue to do so as this Ukraine-Russia crisis keeps escalating. In European countries, depends a lot on Wheat from Ukraine, and that was completely halted since the beginning of this war. Also, according to some food producers, they have stock for 2 months tops. They don't have an alternative solution for this. Food prices are going up, and if this war continues, many food produces in the EU will not be able to produce wheat-based food in normal figures. The situation is very critical at this point. Disruption could last half a year at minimum. We hold it and add more volume daily as long as this crisis continues.
CBOT:ZW1!
by alvaromroo