Key levels Identified - Black line : Monthly Resistance - Maroon line : Monthly Open Weekly Timeframe - Third retest of Monthly Resistance level - Last week candle close as an inside bar suggests consolidation, Expansion might be coming soon Daily Timeframe - Confirmed Bearish Pinbar with a close below its low - Local 0.618 Fibonacci Retracement level Idea:...
The Djinn Predictive Indicators are simple mathematical equations. Once an equation is given to Siri the algorithm provides the future price swing date. Djinn Indicators work on all charts, for any asset category and in all time frames. Occasionally a Djinn Predictive Indicator will miss its prediction date by one candlestick . Dates in the future with the...
The Djinn Predictive Indicators are simple mathematical equations. Once an equation is given to Siri the algorithm provides the future price swing date. Djinn Indicators work on all charts, for any asset category and in all time frames. Occasionally a Djinn Predictive Indicator will miss its prediction date by one candlestick . Dates in the future with the...
The idea can be triggered here on the 4 hour, but first let us take a look at the daily chart. We are at an important resistance zone on the daily chart. At around the 5.82 zone. What has caught my attention is the many indecision candles we have here. The two doji candles, candles with large wicks on either side. What this shows us is that there is a battle...
Most bullish commercials have been in 20 years, im loading up my entire boat with wheat futures
Most bullish commercials have been in 20 years, im loading up my entire boat with spring wheat futures
Wheat is getting better but there is negative divergence on weekly.
It"s not just grocery shoppers who are hoarding pantry staples. Some governments are moving to secure domestic food supplies during the corona virus pandemic . (Bloomberg) Disclaimer: We are not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature, and are therefore are unqualified to...
Fundamentally: According to the Financial Times’ report: Shoppers’ rush to stock up on non-perishable staples such as pasta and noodles to ride out the coronavirus crisis has boosted demand for wheat, which has risen sharply in futures markets on both sides of the Atlantic. Prices have been supported by increased buying by flour millers while in France,...
During the coronavirus, the Demand for certain commodities like Wheat will Increase drastically. Curfews, lockdowns, Marial Law = People stay home and eat more = rush on Supermarkets for breads, flour etc. Price gonna head way up!
As you can see on the chart, it looks like we have seen a bearish breakout constellation. Over half a year we were in a bullish upside trend, which now got broken by price. First T/P should be around a 0.6 fib level. This is a long term trade idea, so let price run and see if it works out. Remember, trading is a business of probability.
The difference of : to look and to see
A simple idea. Wheat is showing a head and shoulders reversal pattern. On the daily, we did break out but that has not been sustained. We can see fake out patterns on both the daily chart and the 4 hour chart. Here on the 4 hour, we are awaiting a break of the neckline. This would also confirm our first lower high swing (the right shoulder of the...
I am long term bullish but I see a nice test of the trend line which may act as resistance. Potentially a drop just below to grab a little liquidity and then a continuation move to the higher side back to $5.81. I am seeing the 4hr macd dropping and RSI within range to drop more. This is my first wheat chart, dont get too excited. This is not trading advice.
Looking at a short opportunity with KC Wheat being at highs of 500’s I also look for other conditions. 1- divergence on almost all Macro time frames including the daily , and indecision here on monthly and weekly timeframes. 2-seasonal historic patterns showing a time where commercials can flip position to net buyers meaning they are hedging against the...