kokoboko
Long

Wheat bullish engulfing pattern on a tripple bottom

CBOT:ZW1!   Wheat Futures
30 2 1
Hi guys. I think it's a great time to buy Wheat             , because it confirmed the tripple bottom with a bullish engulfing pattern. I am long with a stop bellow the bottom aiming for 615. Near these levels i expect a correction and after it i will be aiming for 677 - 730 levels :)
In my oppinion, if it is going to be a strong upmove, it should not fall too much from 512. However, i think that the most legit stop would be 450-455.
Reply
Yes you are right it can go to 700 (my estimate) SO the trade is Buy 500+/- Stop 413 target 680/700. Does that seem right?
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