@HEIKOTradingSystem Hello, what is your take on Wheat right now? The price has come down a lot
HEIKOTradingSystem
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@MariusPopa, Agreed - I'm getting excited now, looking for a divergent candle to show it's face, then I'll be into a buy situation.
I can't imagine wheat won't spike back up considering how much wheat will be out of the market this year with WW3 going on in Europe. That's gotta push prices back up. I'm trying to stick to the 8 hr chart to trade so it might be next week before i'm into a trade. What's your take?
MariusPopa
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@HEIKOTradingSystem, Today I entered a buy order at 1144, it went up right away, but later my stop loss got hit at 1145... after that, it went straight up to 1215, which was not a very pleasant feeling :) Wheat is planted in Autumn and harvested in July, so, theoretically, the crop is still there... with Russia 1st and Ukraine 4th as world exporters, even if peace will be made soon, I don't see how the exports will not be affected... other countries will limit their exports to make reserves because it is a seasonal crop, it cannot be produced all year long, and there are no good alternatives to wheat.. I think everybody expects the prices to be much higher than last year, but how much is to high? My guess is that at some point will go back and over 1300, but when that will happen and what will happen in between, I do not know :) Last year the highest price was reached at the end of April
Not sure where in the world you are, I am in North America (Toronto) and the news here is saying that they have to get the next crop planted in the Ukraine in the next 60 days or they will miss their window. I also understand Russia plants and harvests wheat year round - they have a lot of that 'red hardy wheat' I believe.
Anyway, I agree with you that it will shoot back up, not sure when either. Maybe next week? We shall keep our eyes peeled :-)
MariusPopa
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@HEIKOTradingSystem, Does Tradingview delete messages that contain links to other websites? In terms of sowing, there are 2 types of wheat crops: agriculture . com/crops/wheat/farming-101-planting-wheat Ukraine wheat: agriculture . com/markets/newswire/ukraines-202122-winter-wheat-sowing-area-declines-by-85-ministry I don't know about other countries where the climate can vary a lot, but I am from Romania - 10th largest exporter - and can tell you for sure that here there is only one crop per year; I assume the same is in Ukraine, as we have a similar climate
HEIKOTradingSystem
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@MariusPopa, awesome... Thank You..I appreciate all your info and knowledge. I'm not sure if they delete ALL links or just links to advertise your personal website n stuff like that. I got in trouble once a while back for adding a link to my website. I didn't read the house rules closely. Wheat dropped again so we shall see next week. Maybe it will rise again. 😊
kahanonz
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Which position u look for entry again
HEIKOTradingSystem
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@kahanonz, Sorry - wrong chart - please look above for an updated chart - same 8 hr timeframe.
What I was basing my entry point on was simply price action - If you look at the latest candle, it is a Hammer Candle. Still 4 hours or so to see where it is when it closes but when it closes, if it is still a Hammer candle, then I put in a buy order at that time. Hope that helps :-)
kahanonz
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@HEIKOTradingSystem, ok thank you.if it need maintain the hammer candle form,need close abovw 1250..