Viking83

One month cycle in wheat: The turn points

OANDA:WHEATUSD   CFDs on Wheat
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Cycle last from blue to blue.
The yellow lines represent points within the complete cycle where trend is likely to change +/- 1 day.
Using these dates along with a chart of price ( support/resistance ) should give indications of when to take positions.
Comment: Hah, it is almost 2 months, sorry for the misleading title ;)
AND: This cycle has a BEARISH bias.
Comment: For today I would love to see a bullish bias with sort of double top movement and to then take short to hold until 22nd of August.
Trade active: Put contracts entered
Comment:
Comment: Brutal slamdown on report. Continuance bearish till 22nd
Trade closed: target reached: Closed shorts. Awaiting new position after this trading day
Trade active: Went long. Risky trade as we are in downtrend. 5 % margin impact.
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