Wheat down to $5.70 and then up to $5.81, Long Term BullI am long term bullish but I see a nice test of the trend line which may act as resistance. Potentially a drop just below to grab a little liquidity and then a continuation move to the higher side back to $5.81. I am seeing the 4hr macd dropping and RSI within range to drop more.
This is my first wheat chart, dont get too excited.
This is not trading advice.
WHEATUSD trade ideas
SAAAA-WHEAT!Bullish on Wheat.
No other reason than the chart (and a general understanding that global warming is going to kill our planet and make it hard to grow plants?). Regardless, here's how I plan to profit off our civilization's demise:
Entered at $5.30 (it was early, I know)
We broke out now, and we're looking for a cup and handle target #1, and then a fib level PT #2.
Looking for a 19% move, leveraged at 12x, so we're looking like I just might be able to afford my nuclear bunker and dehydrated packets!
Til death do us part,
TMoneyBidness
Recap 18.41 sunday 6 oct 2019Employing an ETF pairs strategy may be useful when there is a disconnect between assets that are usually highly correlated.
Sector, country, and index ETFs also provide opportunities for the pairs trader, usually involving going long on a strong ETF and short on a weaker one. It’s important to exit the trades when the assets realign or the trends of strong and weak assets reverse.
It would also be wise to set a loss limit on each trade, and realize that markets are dynamic; relationships that existed yesterday may not necessarily exist tomorrow.
Consider our S&P 500 and Dow Jones index example. These indexes are highly correlated and both are tradable via ETFs: the S&P 500 SPDR (SPY A) and the Dow Jones Industrial SPDR (DIA A-). When the two separate, they generally reconnect, although that can take days or months.