$ 418 Low of May 2019
$1284 High of May 2022
$ 540 Low of April 2024
After massive floods in Europe, Asia, and now South America, wheat prices have taken off like a rocket. Commodities are not my specialty, but i have watched this one for years and it's been bought every pull back in the past 2 moths after it was sold every rally for the last 2 years. Even though the price is almost 30% off the last month lows, there is a lot more room to the highs of 2022.
Strategy- small size, looking to catch the big move and more importantly to be able to hold on to it.
Stop $631
1st Target $900
2nd Target $1,200
let's see how this one goes:)
$1284 High of May 2022
$ 540 Low of April 2024
After massive floods in Europe, Asia, and now South America, wheat prices have taken off like a rocket. Commodities are not my specialty, but i have watched this one for years and it's been bought every pull back in the past 2 moths after it was sold every rally for the last 2 years. Even though the price is almost 30% off the last month lows, there is a lot more room to the highs of 2022.
Strategy- small size, looking to catch the big move and more importantly to be able to hold on to it.
Stop $631
1st Target $900
2nd Target $1,200
let's see how this one goes:)
Trade active:
Wheat traded above the previous sell off point of $703 in July 2023 and made a reversal. I am moving my stop/take profit to 751 on 1 contract because if it does sell off here we will have a lower high that followed a lower low and sellers are still in control. This thing is supper volatile and it is prudent to have a small size (relative to your account).
Navigate this one with care
Navigate this one with care