Seems to be weather related more than anything. I'm not making a prediction.
another bottom setting up in a commodity here. long on 3 day high
A breakout has come and a price reached my PT. Nice profit of $200/contract.
Wheat was overbought last few weeks and there is still a potential to decline.
The Hard Red Winter Wheat is trading sideways within a long term 1W Rectangle (RSI = 51.682, Williams = -53.356, CCI = 24.4952, Highs/Lows = 0.0000) and the High Volatility (ATR = 43.4643) sustains this movement. After a successful support test, we are long with TP = 562.60.
I am not a fan of commodity trading but it comes down to opportunity I take whatever is available. Here is the picture of fresh supply and demand zones in wheat which can be played out with proper risk to reward. Remember trading is only easy when you consider risk to reward like any other business. Cheers :)
Commodities quoted as XXXUSD are expected to rally up at triangle crash of JPY, USD & CAD. Mainly because the prices are quoted in USD which is going to devalue hence any rate XXXUSD will go up.
A bearish signal on Wheat futures with the target in the area $ 484/494 and stop loss at $ 584/585.
$WEAT (wheat ETF) setting up for possible break of downtrend on monthly
A bear spread with low volatility and risk. Entry at 6,0. SL 4,0 ($100/contract), PT 10,0 ($200)
Wheat is clearly overbought, thinking about selling...
Wheat Buy Idea @Monthly Demand Zone (444.0 - 411.2) Buy Limit: 444.0 Stop Loss: 410.0 Take Profit: 490.0
Why Wheat and why now. What about Soybeans and Corn. Looking across the Ags, it seems that Wheat is enjoying the most upside. Why is this. In keeping with my focus on the DMI and ADX, I think you’d have start by looking at the monthly chart of the 3. One of the key tenants of DMI/ADX is that best trades seem to originate when the ADX is below 20 for an...
So far, I’ve focused on how to get into the market based on the DMI swap in dominance between the +DI and -DI. Once you’re in or if you missed the original entry, how can you get into a trend while minimizing your risk. As I’ve noted before, I’ve not been able to successfully trade on a regular basis but my hope is to use everything I’m documenting here to...
Setting up a trade based on daily signal using 4 hour chart for timing. In this scenario, the daily chart had its ADX below 20 since July 3rd. When trading with DMI/ADX, periods of breakout after the ADX has been below 20 for at least 7-10 periods can provide good results. In this case, the 4 hour chart had dropped below 20 for an extended period too. On July...
Wheat ETF set up on the monthly. waiting for breakout of long term downtrend. $WEAT
Wheat has been bullish since the beginning of 2018 and I think there is reason to expect to see it continue. Some of the main drivers are: 1. Potential tariff introduction and major us trade partners like mexico moving to other wheat sources affect trade stability and commodities as a whole. 2. The developing drought in the US this summer Watching for a move...