Wheat Buy IdeaWheat Buy Idea @Monthly Demand Zone (444.0 - 411.2)
Buy Limit: 444.0
Stop Loss: 410.0
Take Profit: 490.0
ZW1! trade ideas
WHEAT short opportunity developing WHEAT is in a bear trend below the 540.0 ceiling. An opportunity to enter short positions is developing for next week. First target is 440.0. This can be seen as the middle of a H&S patter with 440.o neckline. Have fun.
Wheat Buy IdeaWheat Buy Idea @Daily Demand Zone (466.6 - 461.2)
Buy Limit: 466.6
Stop Loss: 461.0
Take Profit: 486.0
Wheat Buy IdeaWheat Buy Idea @Weekly Demand Zone (427.0 - 410.4)
Buy Limit: 427.0
Stop Loss: 410.0
Take Profit: 452.0
#ZW_F $ZW_F #Wheat - Bear spreadBear spread ZWZ18-ZWU18. I wait for a correction and a spread price about 19,0. SL 17,0 ($100/contract], PT 24,0 ($250/contract).
Wheat Monthly first cross of Nines Ma'sFirst indication that Wheat futures have come to a turning point in 5 years.
wheat rising. pay attention for MOLI bullish. a lor of volume. i hope that maintains this line that it just have crossed.
wheat- moving in an uptrend positional target 572 .
strategy- buy on dips
sl- 1% buffer of blue trendline
ZW long: Short-term oversoldIt seems that wheat has been oversold on the lower timeframes (i.e. below 1hour). I believe that the risk-reward is now favourable on the long side.
Note that the current price is also an important price zone as I have highlighted in circles.
Nice day to be long WheatWent long wheat at 498.25, nice to be long wheat here. Refer to the % based on previous swing, should we break the 50% then targeting the 100%
Wheat looks set to break higherLooking 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 zw1! chart. Actual entry will be with the e-mini July Wheat.
On TV, I track WHEATUSD for the real-time data feed.
Short Wheat - Addition to my published idea earlier this daySorry, I accidentally published my Idea from earlier today with an 1 hour chart.
Here is the daily chart: Idea stays the same but the daily timeframe / daily chart is more appropriate.
Short Wheat ZW1!US Wheat (Chicago) hit the upper line of the triangle I draw in the weekly chart. This line - for now - hold and wheat did not move higher.
Furthermore, volume did not really increased during the upmove of the last two to three days. This is even more striking in the weekly chart, where volume decreased in the last three weeks while wheat moved up.
This is a strong signal for falling prices.
On the fundamental side:
The US Dollar Index broke out of its triangle and is about to move higher in the next couple of weeks.
The Ruble devalued further against the US Dollar Index.
Both are important reasons for falling US Wheat prices.
But: Spring wheat seedings are behind - in the US and Russia (this is especially important for Russia). This might have a strong effect on Chicago Wheat. If Wheat moves above the upper triangle line / breaks out, then this is the reason.
Therefore, a close stop should be put in place a little bit above the (blue) uppper triangle line.
The next support line is at around 478.
July Wheat Bullish GartleyWheat appearing to be building out a Bullish Gartely. The breach of the 20 day MA puts us in a possible continued sell off. Downside target for bears is S1 459'1. If Wheat uses MA for another upside bounce we would be looking at further upside to 499'6, but with all the other grain markets in the same condition, down, we expect further downside.
Short WheatDue to a weaker Ruble, Wheat from Russia becomes more competetive which should be solved by a partial decline of US Wheat prices (and by a partial increase in Russia Wheat prices - higher demand for Russian Wheat).
Furthermore, USDA does not expect a declining "Ending Stocks" for Wheat this season although US Weather around Kansas is still very unfavorable for Winter Wheat conditions.
World Ending Stocks expected: Estimates (April) = 254 Million MT, March = 252 Million - but this is mostly due to a higher estimated "World Beginning Stock" (instead of 252 Million, the world started with 254 Million in this season).
Therefore, I expect US (Chicago) Wheat prices to fall to around 462 (next support area). A stop loss should be placed a little bit above 478 (now a resistance area).
