Wheat prices remain high, despite the supply of relatively good data on the market
High quality spring wheat - higher than winter crop
The quality of spring wheat has been the highest in the United States since 2010, and it may still grow
In some EU countries, rainfall increases the quality of European wheat
Despite the relatively dry weather, the quality of wheat...
Hi there. Price is forming a continuation pattern to the downside. Wait for the price to hit the top of the pattern and watch strong price action for sell.
Don’t take a trade if you don’t see clearly when big guys are in.
Been bullish on Wheat -0.18% already for some months. We're in a small consolidation on the longer term but watching for a short term continuation trade going bullish .
Watching for a buy below 5.020 with a target up into 5.065 for the day based on support at the 5.000.
Peace, love, and sweet bamboo,
Note: All ideas expressed here are presented solely...
Wheat has failed 4 weeks in a row to break the 525 price barrier - the weekly MA20 which is in negative direction! If we look at the shape it seems that we will head up, but there are several reasons why we should consider shorting:
Weekly MA 20 just above 525 with negative direction
Daily MA 50 just above 525 with negative direction
We are in decline on the...
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.
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.
Great opportunities to short wheat at the key 0.618 fib level for a big move down all the way to 4.2820 at the 0.236 fib level. Minimum draw-down with stops placed safely above the summer highs.
Entry: 5.3540 (On the 0.618 fib level)