Although there was a rally later in the day in the S&P 500 which implies buyers moving the market higher going into the close. The overall structure for Friday implies caution if you are on the long side. It's important that the market does not return to Friday's Lows on Monday to maintain momentum for continuation to new highs.
In this video I go over one of my favorite markets the Wheat market and its current conditions and it's developing stories from dryness in the Kansas City Area a major producer of HRW wheat to war torn Ukraine and potential disruptions there. And with a market that is very heavily shorted by large managed money speculators this leaves a market very vulnerable to...
Massive move on wheat today that showed up on our TrendCloud Scanning System.
Let's go over the setup real quick and get you guys ready for any prop trading firms challenge that comes your way.
4 hour chart is down and momentum is down as well.
1 hour momentum is down and 15 min chart is giving us a TrendCloud Signal inside of a Supply Zone.
My current trade idea on the wheat mini futures to short given the strong bearish trend and a bear flag after buyers have failed to keep the buying momentum going even some fundamental issues putting pressure on the wheat market such as a surplus of wheat.
CBOT:ZW1! CBOT_MINI:XW1! AMEX:WEAT
4 hour TrendCloud Crossover
1 hour TrendCloud downtrend
30 min supply zone.
CCI is slightly against us but we are taking a 1% risk on this trade to the downside for a 2:1 target.
In this video analysis, I will walk you through 3 keys:
1. My observation on these cycles
2. The super charge in the Gold, how that affect the commodities subsequently?
3. How about inflation? Will it settle at 3%?
Some reference for traders:
Chicago SRW Wheat Futures & Options – Its Minimum Fluctuation
1/4 of one cent (0.0025) per bushel = $12.50 / ZW
Gold...
When I worked as a professional technical analyst at major banks, I often encountered two common questions: Did I optimize my moving averages, and why did I use a 55-week and 200-week moving average?
To address these queries, I've created a short video. The answer is that I never optimized the moving averages. Firstly, moving averages have a lagging effect, and...
In this update we review the recent price action in the Wheat futures contract and identify the next high probability trading pattern and price objectives to target
11. 3. 22 I called for a long trade on WHEAT Last week. It did go higher, and I would have been optimistic then it would be going a lot higher because it Gapped Higher...But then it gapped lower and is almost At the support. I would get out of a long trade like this.
10. 26. 22 I think the lumber has come to a reversal area. Unfortunately, I pushed the wrong button, which may be good for you, and I accidentally close the video before I got done talking. This means there will be another video.
10. 18. 22 This is part 2 of wheat. Essentially, I am very comfortable with part 1, and it represents how I would frame a market for a trade. However, I can get a trading advantage with a low risk of getting stopped out, getting in at a lower price If I use the 4-Hour chart. The 4-Hour chart has two functions in this case: It gets me in yesterday at a lower...
10. 18. 22 I'm showing you the setup wheat trade. I do not trade wheat, but maybe I will someday. I went process and everything that I described is exactly what I would do if I were taking a trade in this market. What I mean by that is that I would not just set the market up for the long trade...I would also look at the long trade that I missed. If I were doing...
10. 10. 22 This is a wheat trade and managing the target. I'm posting this because it helps reinforce what I was trying to convey this weekend.... looking for realistic targets and staying in good trades longer.
9.7.22 Wheat: This looks like a long trade with a small stop. This is a market that can grind higher and lower, and used to be problematic for me because markets like this move slowly very small range, and that is usually very annoying for me. However, I think there's a technique that I personally use, it keeps me in the market longer in a way that's more...
All in the video, dip buyers are still in control at the moment. Next resistance point would be around 4360 if they keep rallying it up (quite possible)
Paul Wankmueller CMT of Blue Line Futures sees a Head and Shoulders Top in December 2022 CBOT Wheat. Feel free to reach out with any Technical Analysis Questions!
Today Wheat broke through the neckline of a Head & Shoulders top with conviction, confirming the pattern. Using the distance between the neckline and the top of the head, the continuation can conclude...
