Wheat - It looked like... but faded again

52 2 2
It looked like a start of a sustainable bullish move, but what we have seen during last three weeks was a bit tricky. Initially it looked like a pull back, but the sellers got more control.

- Ichimoku setup is back to bearish biased, but it will be hard to go full bearish again, unless price moves below 480 and Chikou goes out into open space again.
- Heikin Ashi was extreme bullish , so with haDelta extreme peak when Price reached Kumo top a consolidation/pull back was inevitable. Actually it was consolidating for two weeks, but without new bullish power sellers got control again. Heikin Ashi setup is bearish now, but haDelta is now reaching extreme oversold area! Maybe we will see bearish consolidation and/or bullish pull back next?

- Blow up, collapse down. Same pace. Spot Ichimoku is bearish/neutral, but looking forward Price faces some more bearish headwind ahead.
- Price is reaching possible support/resistance , where sellers should take a break.
- Heikin Ashi may signal today a start of bearish consolidation. Watch positive divergence in haDelta!
- As Wheat             has become very volatile, it is not impossible that we see a quick move upto 535-540 area from support.

Hard to find a proper strategy here. Maybe worths some bottom fishing in small.

Sh*t happens. I tried this bottom fishing, but got stopped at 496.
I just bought few contracts at 505,5. Stop at 496. Initial tgt 535. Trade is a counter swing trade, and is rather bottom fishing, so do not allocate more than 0,5 risk unit!
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out