rockvuecap
Long

Long Wheat on Technical Breakout from Rectangle Pattern

CBOT:W1!   WHEAT FUTURES
I went long on Wheat             this morning in my paper account due to my original long commodity thesis. I am actively looking to add more commodity exposure to the portfolio, mainly because that's where I believe the outsized returns will come to home roost. On the weekly charts, wheat             has broken through the rectangle pattern that spans back to August of 2017.

I set my stop loss at 4.06, which if hit, would indicate a false breakout and an incorrect implementation of my bullish thesis at that moment.

As always, let me know if you have any further questions or comments.
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