Wheat had a 60 point gain (trailing stop above prior 1 hour bar)
and Nasdaq on 30 min chart has an open profit of 60 points.
On long trades you can always make re-entries near the low of the prior two bars as here is a 2 bar trailing stop
On short trade you can always make re-entries if the risk is low (distance to current prior bars high) thats why I added to...
General
Wheat seems to generate a nasty SFP. It took out the recent Swing High and then dropped over 22%. With the monthly close coming soon i could image it going lower before finding support.
I marked 4 Scenarios which i would be happy to take either.
1. Long (Blue arrow)
Price moves to the red rectangle (area 1), finds support and "generates a swing"....
..are soaring by eight percent and reach the daily trading limit as the situation in the Ukraine remains dangerous and the Black Sea region is cutting back production severely. US farmers probably reduce acreage as well, while planting possibly gets delayed due to bad weather events.
1. Daily wheat futures prepares to exit ellipse after trading below the 78° and 71° resistance/support angles (Bayer, 1946).
2. Trend change due on the Helio Mercury—Jupiter, —Saturn conjunctions (Bayer, 1946).
📌 @ridethepig ZW1! Market Commentary 17.12.2020
For buyers the breakout creates the typical starting point, one we have seen many many times before. The fact it is happening on the monthly chart is very telling, this is threatening to impulsive explode to the topside via shortages on the supply side from lockdowns and contractions in globalisation.
Whatever...
All commodities on my watchlist
www.tradingview.com
are still long.
yes there was a take profit on wheat on oil below prior days low (usuaylly two days low but because of bars ranges that a much higher than prior day I am using a 1 day trailing stop)
Buying new highs on the 5 min chart below prior days low is a valid re-entry pattern.
Will we reach new yearly...
Anyone been to the grocery store lately? Filled up your car with gas? Bought electrical wire at Home Depot? Tried to buy a house? Have you noticed anything? "Transitory" inflation is chomping through all the liquidity infused into the world the last two years. Printing dollar bills doesn't create wealth - it dilutes it. We printed how many trillions of dollars...
Wheat came back up on a tear so I decided to Take Profit at 1315 from 1250 for some nice profit.
My plan now is to wait for wheat to fall back some overnight and buy again either late tonight or tomorrow and ride price up again.
Congrats to all who followed this trade - enjoy your Profits!!
Stay safe.
Heiko
Wheat Futures - Hit All TIME HIGH after gap up halts. Wheat is up 75% since January. The conflict around the world has accelerated the movement in the wheat market. What will the US do to bring things back into balance?
Wheat came down for the first time in over 5 sessions so I was looking for a pullback and then I could hopefully get into a Buy Order. I did put in a Buy order at 1250 less than an hour ago.
Markets are crazy wild with prices moving a lot. Like I have said all day today, I believe over the next 2 weeks Wheat and Corn will continue to go up. Definately there...
read article here
Yes, we will need to make more money to purchase the same amount of food than before as the price has gone up or inflated. Whatever the reasons you like to believe to cause the inflation, the outcome is the same - you will need more money than before to purchase the same amount of food.
Options you have ? Substitute the food for a cheaper...
It doesn't matter its overbought, the price continues rising. The war can create one-time only events in the markets. We've seen the Russian Moscow Exchange closed for more than 1 week, USD/RUB skyrocketing and commodities such as Wheat going up completely out of control. We bought Wheat more than a year ago and we've added more volume as the uptrend continued,...
