A few things: ... on Monday we have #notrading day in #Chicago. ... often in the triangle wave "e" is ...a triangle. ... the chart above is a only continuation graph. ... every year we have five contracts for wheat: 1. March - "H" : 2. May - "K": 3. July - "N". 4. September "U". 5. December "Z". Considering the above, you should look for bottom on the...
Wheat prices are now below of cost production - american farmers say. On the other side - market analysts saying we’re going to have a new cost level cca. $3.75. Next Friday we have another #WASDE report. GL! www.thepatternsite.com
Wheat: Price made a lower low but close higher than the previous 2 sessions which makes 'double key reversal' which is a very reliable reversal pattern. We are expecting higher levels from here but are not too enthusiastic about the upside potential right now.
Price continuing to hug and hold on to minor frequency of the up blue fork. This has to hold or we may see 382 or lower.
Wheat has paused and is moving higher. Look for price to continue its upward momentum if the blue fork can hold.
Wheat chart showing a zoom and retest of pink median line, look for break of low to show more opportunities to short.
Wheat: Price keeps us in limbo what side to chose already since quite some time and we have made some wrong calls during the past weeks. There could be a 'bear-flag-pattern' on this chart with possible target 380. We are waiting and not touching.
Wheat: Price has traded down over 20% in about 5 weeks time and shows signs that the move to the down side is mature. The picture of last week's price development suggests that we should expect one more mild move to the downside after which we anticipate a 10% rally. Traders keep their powder dry for one more week and can start looking for a long play opportunity...
Wheat is now at monthly support. Looking at the low formed in June of 2010 as the support. Since then price has slowly corrects back. Price has now currently gone below it and move back up again. Looking to long if go above the 5th July candle high. Target to TP at least at 620'6 level..
Wheat is now at monthly support. Looking at the low formed in June of 2010 as the support. Since then price has slowly corrects back. Price has now currently gone below it and move back up again. Looking to long if go above the past 2 days candle high. Target to TP at least at 620'6 level..
We see perfect Double Bottom at the Wheat on H4 timeframe Market Execution
Kangaroo tail / Hammer candle (at the time of publishing idea) - Important support zone - A lot of room to the left - Nice candle formation Only place the order a few minutes before the next candle formation (on daily chart) if the candle still has its form.
Look for price to continue to drop down to 420 area. May retrace to ML for short at Down Arrows
Wheat: We still do not see a lot of possibilities in this chart and, after having made wrong conclusions twice in a row, we want to wait and see what develops from here. We have a drawn a possible scenario on the chart which we will keep look at but looking is all that there is to be done as far as we are concerned.
Very often in the correction, wave 'Y' has the form of a triangle. Watch out next #USDA report. www.businessinsider.com