Wheat buy on fib 0.71Wheat appears to have broken its downward trend on the 1-hour chart, forming higher highs (HH) and higher lows (HL). We are now anticipating a continuation of this upward trend, with a trade idea provided.
WHTUSD trade ideas
WHEAT SEASONALITY : strongly bullish
FUNDAMENTAL: INSTITUTIONAL BUYING
TECHNICAL ANALYSIS;
break of downtrend line making higher high low with bullish divergence
possible to continue the trend
Wheat looks good for a long ride to the upsideThe prices are at the lows and the structure shows a rejection at low prices and, it´s ready to launch the price to the upside and recover part of its year looses. Good luck!
Go long with Wheat, correction is overI believe correction for Wheat was over and it's time to take a long position for a huge ride to the upside. final Target 940
WHEAT: Rising probability of climate anomalies fully priced in? Wheat's bull run since mid March has been driven by weather concerns as a La Nina looks increasingly probable, even as fundamentals of ample supply remain bearish. Listening to commentators on the ground who don't see what the fuss is about with plentiful supply, it does occur whether they're thinking enough in terms of potential climate anomalies. This could be for political reasons, or just the trance of business as usual, and a trader can glean a possible gap to be bridged. In this case, to climate scientists reportedly dispairing because they understand what's coming up. The bigger picture trade with commodities like wheat may be expect the unexpected.
On a TA basis, the bull run has jumped on the new week's bell, but right into the weekly 200MA in white. If the price still does not match the concern for not just La Nina but global heating anomalies, the next stop may be the .618 fib in the purple box. That was also the case last year in the active season. Also to watch for is a weekly golden cross as the 50MA moves up over the 200MA.
On a fundamentals basis however, it's worth listening to analysts in the market who expect at some point a 'snap back' to match bearish supply levels on the ground. Chance then for a scalp down but also more caution needed if going long for the .618 on the weekly.
Not financial advice and you trade at your own risk.
WHEAT - Bottom is near!After a failed rally, it fell down the break the last low and is now grinding out a bottom. This looks like a good opportunity to long by buying small positions every week for next few months.
There has also been a completion of a three-wave correction, which helps to further strengthen the case that this could be in the final bear stage.
Wheat is trading in a falling wedge!Weekly chart, wheat cash contract is trading in a falling wedge!
Will we see the 435 - 400 price level or rebound upwards from 520 - 525?
It is tough to confirm.. However, this falling wedge pattern has a higher probability that the price will cross the resistance (line R) upwards towards 745 and 765 in the long term.
We are observing a potential "breakout" pattern.
The price has broken through the downward trendline, which is drawn by connecting the lower highs on the price bars. The breakout indicates a possible end to the downward trend and may suggest a change in momentum.
Live swing trade in wheatLive swing trade in wheat. I am very curious about the result because it is December 1 and exactly at this time the seasonal tendency is to have a strong fall in the first days of December, after which the rest of the month is bullish. My curiosity is if this crash will not happen again due to technical reasons.
WHEATF | Wheat Poised for a Rebound!👋 Good day, traders!
📈 After a two-month decline on the D1 chart, WHEATF has found support at the 540 level. Given its month-long accumulation phase and the completion of its downtrend, a breakout above the 587.75 resistance level could signal a rally towards target levels of 615.00, 660.00, 695.00, and 732.00. Consider buying entries around the 595.00-600.00 range, targeting potential profits of 3.3% to 23.0%, with a SL set at ~565.00.
✅ Give a 👍 if you're keen on more insightful and profitable trading ideas❗️
❓ I'd love to hear your thoughts. What's your take on this?
DISCLAIMER:
This idea is purely informational and educational. It's not a trading recommendation. Each trader should analyze and make decisions based on this information independently.
Wheat middle term.Rsi bullish divergence.
Far away from ema200, soon this average will pull the prices towards itself.
* What i share here is not an investment advice. Please do your own research before investing in any asset.
* Never take my personal opinions as investment advice, you may lose all your money.
Wheat - H4 - TriggerWhenever the price breaks the downward trend line , there is a strong possibility for wheat to rise to the 650$
Wheat - D1the price 570$ is the last support area for the Wheat
Wheat is moving in a channel and if it reverse from this area it can rise to the 650$ .
Trigger is in the H4 time frame whenever price breaks the downward trend line.
Wheat - H4 - LongWheat is a commodity and seasons affect the wheat price.
in August wheat usually drops to the lower prices.
Now, due to the supply problems and by looking at the chart , if it is below 650$ you can buy and keep it until 685$.
The end of the wheat harvest season. start of traders' harvestBased on fundamental data (end of the harvest season). We have to see higher prices on Weat soon.
Also if we look at it based on technical analysis, the price has a really important support.
I'm entering a LONG position on Weat.
Wheat Future - ShortDespite the news from Ukraine about missile strikes on the grain export ports. We have to take into consideration the top 5 exporters of wheat in the world.
1. Russia
2. United States
3. Australia
4. Canada
5. Ukraine
This indicates that there is still competition for the top exporters. It will be in Russia's best interest to sell as much wheat at the lowest price to other countries. This would allow a bigger control of the market, despite "ethically" sourcing.
Worth noting that just went through a double top scenario and in a "testing" phase. A price drop is expected.
Lastly, for what it's worth, harvesting season is about to start in September, sending more grain to the market, while further driving the price down.
WheatI think wheat is about to bounce up, we have double Bullish Regular DIV, we get in to resistance area which make that more possible.
WHEAT BULLISH SCENARIONKyiv's goal is to establish direct access for international ships to their Ukrainian seaports for loading grain. However, Russia has reacted strongly to this development, stating that ships heading to Ukrainian seaports may be treated as potential military targets.
The consequences of these actions by Russia have not only affected Ukraine but have also raised concerns globally. The United Nations has warned of a potential food crisis in the world's poorest countries due to Russia's decision to abandon the grain deal, which was brokered by the U.N. and Turkey.
Ukrainian officials claim that since Russia's departure from the grain deal, they have targeted 26 port facilities, five civilian vessels, and approximately 180,000 tonnes of grain in a series of strikes over nine days.
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Wheat creates an almost perfect cupNext target is 798 if wheat breaks the current resistance.
Two scenarios, either break the resistance or bounce down to create a cup & handle then break resistance.
All indicators imply a move up!
Wheat had been accumulating since last month’s Wheat had been accumulating since last month’s So it worth to have a look in my opinion it’s bullish after waiting for confirmation on chart
#WHEAT 🟢 M5 LONG
Medium-term deal on Wheat.
Entrance to retest M5 imbalance
The trend is downward, but the imbalance requires a corrective movement
input: 668.3 (on imbalance retest)
stop: 664.1
tp-1: 672.6
tp-2: 681.1
Wheat retracement done?Chicago wheat tried to stage a Thursday recovery but faded a dime from the earlier highs to close 2 1/4 to 3 1/2 cents in the red. Spring wheat prices also faded 5-9 cents from their intra-day highs, but held onto 3 3/4 to 7 1/4 cent gains for the close. HRW futures extended the week’s pullback with another 5 3/4 to 7 1/2 cent losses on Thursday.
The weekly Export Sales report showed 155,167 MT of wheat was sold during the week that ended 6/22. Estimates were to see between 50k and 400k MT. By class, HRS makes up 30.3% of the committed 23/24 business. HRW sits at 22% with 30% for SRW.
Russia’s 23/24 wheat harvest has begun, according to the Ministry of Agriculture Russia has harvested 2 MMT of grains through 6/28 - ahead of last year’s pace. The Russian Federation has planted 55.6m HA through 6/28, which is more area than last year but the planting pace as a percentage of expected area is inline with average.
Jul 23 CBOT Wheat closed at $6.53, down 2 3/4 cents,
Sep 23 CBOT Wheat closed at $6.67 1/2, down 2 1/4 cents,
Cash SRW Wheat was $6.08 3/8, down 1 5/8 cents,
Jul 23 KCBT Wheat closed at $7.94 1/4, down 6 1/2 cents,
Cash HRW Wheat was $7.52, down 7 3/8 cents,
Jul 23 MGEX Wheat closed at $8.07 1/2, up 3 3/4 cents,
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
WHEAT FUTURE 1D reversal candle, support lev LONGHello fellow traders,
this idea is based on the support/resistance levels and candle formation. The price has bounced off the support level and reversal daily candle formed which suggest finally the trend is to change. The take profit at level of 700 being the psychological and resistance level tested previously. The trade is at 1:2 risk to reward ratio, always be prepared to close the trade not loosing too much and trade with rewards at least as high as reward never less :)
RE<MEMBER- This is just an idea not a trading advise!
