WHEAT trade ideas
This decline distance matches the previous moves downLooking for a potential buy here, awaiting confirmation from technical indicators. move higher (first target) targets 5.379. a move equal to the previous two moves higher puts this at around 5.650
¿Change of trend in wheat?According to daily time frame it looks like $WHEAT is making support and preparing a change of trend.
WHEAT - D/W/M - LONGWe already traded WHEAT weeks ago with some success, and I found this setup quite interesting. On daily we have another nice breakout, that could lead to another false breakout. But in this case we are narrowing down on the support and resistance so we should see some break in the following weeks.
Taking into account macroeconomics, I'm betting more on the upside than downside for WHEAT.
I added a mid-range TP that looks achievable this year.
This is a long trade, so be prepared to keep this one forever. SL (if any) should be around 3.55.
Trade with your own diligence.
GL HF
Engulfing pattern 2well we see that traders break through the resistance not once but twice. But, we haven't seen them near the support area with the first pattern and with the 2nd.
While I am not truly analyzing this to come to a trading plan with this specific stock/commodity. I do have additional questions with my limited knowledge. Was the stock oversold at one point? Did something happen with Wheat in the U.S.A? Is there a shortage/failed crops and this increased the price of wheat? Is there a new regulation on wheat? Do not many people purchase products with U.S.A wheat in it?
Well I think sooner or later this stock with drop steeply.
Will it drop to the 4.510 or 4.370?
A chart for me to ponder as I go through Mr. Nison's book.
Another shortWe are aproaching the main trendline, evalutationg the seasonality i'll put a short order.
REVERSAL ON WHEAT COMING VERY SOON! Right, prices could appreciate to highs of 5.000/5.2000.
HOWEVER GUYS.
Expect a very sharp reversal very soon!
I believe that we're in for a very lucrative trade, I think that we're in for a short down to lows of 4.300/4.100.
LET'S GO, LET'S SEE WHAT HAPPENS NEXT!
TP: 4.300/4.100
WHEAT WHAT'S GOING ON?!Well, Well, Well.
I anticipated wheat to reach lows of at least 4.200 if I'm being totally honest, however I had to leave this trade alone. Wasn't as lucrative as I thought it would be prices reversed to the upside!
You win some, you lose some guys!
Such is life!
WHEATUSD buy around 4.35WHEATUSD buy around 4.35.. 200dma , 62 fib and trend supp.. Hard to go below that bar a major event
WHEAT USDLooking at buying WHEAT with a Win lose ratio of close to 1:2
Good Doji forming. Although not at the most confluence area
WHEAT/USD HOLD ON GUYS! (UPDATE)So guys I'm currently waiting for a decisive break out of our key level.
PATIENCE GUYS, let's just be patient!
WHEAT $$Dear Traders ,,,
Today we have wheat rejected every time to break the Resistance trend line.
So as result we are looking to short soon.
Regards
MENA-FX
CAN WE STILL GO LOWER ON WHEAT?Alright, so I've been looking at wheat for some time now, and to be totally honest I don't actually think that we're done from a selling stand point. I believe that prices could still go lower, potentially near the 4.400/4.200 Region.
ALSO!
If this happens I'll be more than ready to buy the reversal up to highs of 4.700 after our bear run!
TP: 4.400/4.200
