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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 ...
We have a weak movement up but we have daily MA20 below us. I believe that we need to retest it before seeing bull movement next week!
Open trade 523 $
Target 510 $
Good 4:1 ration !
Wheat was overbought last few weeks and there is still a potential to decline.
A bearish signal on Wheat futures with the target in the area $ 484/494 and stop loss at $ 584/585.
Wheat is clearly overbought, thinking about selling...
WHEAT is in a bear trend below the 540.0 ceiling. An opportunity to enter short positions is developing for next week. First target is 440.0. This can be seen as the middle of a H&S patter with 440.o neckline. Have fun.
Does it not look like a H&S?
First indication that Wheat futures have come to a turning point in 5 years.
Wheat seems to be overbought. Possible downtrend!
Long Soybean/Wheat spread, Playing cheap vs expensive ags
positional target 572 .
strategy- buy on dips
sl- 1% buffer of blue trendline
Testing trading method to sell weakening Ags and buy strengthening Ags
Looking for a 2-1 Risk/Reward
Pseudo swing trade with good potential up, waiting for my target to be reached then I'll get out.
Went long wheat at 498.25, nice to be long wheat here. Refer to the % based on previous swing, should we break the 50% then targeting the 100%
It seems that wheat has been oversold on the lower timeframes (i.e. below 1hour). I believe that the risk-reward is now favourable on the long side.
Note that the current price is also an important price zone as I have highlighted in circles.
If wheat can breakdown the median it can fill some gaps
Nice move underway, bought at 510'4