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ZW1! Potential For Bearish ContinuationLooking at the H4 chart, my overall bias for ZW1! is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. Looking for a sell stop entry at 750.75, where the 61.8% Fibonacci line is. Stop loss will be at 767.25, where the 61.8% Fibonacci line and previous high is. Take profit will be at 723.50, where the previous swing low is. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
CBOT:ZW1!Short
by Vantage
Wheat Has Topped, But Corrective Recovery Can Be NearWheat has topped, but corrective recovery can be near, as we see it finishing a five-wave cycle from the highs. Wheat has been in a massive rally at the beginning of 2022 due to war in Ukraine, but now that stocks are trying to stabilize in the second part of 2022, we can see commodities slowing down within deeper corrections. Wheat has five waves down from the highs into first leg A, now unfolding and finishing wave "5" of A that can stop around 700 - 600 area. So, top is in place temporarily, but corrective pullback in wave B may occur at the beginning of 2023, which can retest the 950 – 1000 resistance area before we will later see more weakness within wave C. All the best! If you like what we do, then please like and share our idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
CBOT:ZW1!
by ew-forecast
ZW1! Potential For Bullish RiseLooking at the H4 chart, my overall bias for ZW1! is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. However, I am looking to play the pullback. Price has tapped into my buy stop entry at 756.25, where the 23.6% Fibonacci line is. Stop loss will be at 723.50, where the recent swing low is. Take profit will be at 799.50, where the 61.8% Fibonacci line is. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
CBOT:ZW1!Long
by Vantage
Wheat Potential for Bullish RiseLooking at the H4 chart, my overall bias for ZW1! is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. However, I am looking to play the pullback. So, I am looking for a possible buy stop entry at 756.25, where the 23.6% Fibonacci line is. Stop loss will be at 723.50, where the recent swing low is. Take profit will be at 799.50, where the 61.8% Fibonacci line is. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
CBOT:ZW1!Long
by Vantage
Wheat: Rough ride since March...Now what???Wheat has had a rough ride since the historic highs reached in March, and now is at levels that will test a "swing support" zone that has held several times in the past year. In summarizing this past week's wheat action, Total Farm Marketing noted (www.totalfarmmarketing.com) Wheat Prices Lower for the Week December CBOT wheat futures shed 10-1/2 cents this week to close at 803-1/4 December KCBOT wheat futures shed 9-1/4 cents this week to close at 934-1/4 December MGEX wheat futures added 5-3/4 cents this week to close at 951-1/2 Informa raised its estimate for the 2023 World wheat crop my 4.5 million tons on higher production in China and India Wheat export sales were only 5.7 million bushels last week which is the second smallest weekly total for that date since 1996 Managed money is currently holding its largest net-short position in 3 years US winter wheat conditions improved somewhat after last week’s rains, but the Plains are still in an extreme drought and will need higher than normal winter precipitation to replenish soil moisture before crops come out of dormancy in the spring Given the mostly negative news, the price action is understandable. But from here, what's the play? Carley Garner from DeCarley Trading tweeted the following idea (and shared with her clients): madmimi.com The link will take you to Carley's specific trade idea which...spoiler alert....plays on Wheat holding support and bouncing from here at some point. I think her trade idea is well constructed and founded on sound reasoning. I actually initiated a small position in the call spread (without selling the otm put). As always, my positioning and my article is NOT meant to be advice in any way! But it's good food for thought and discussion. Eager to hear reactions/thoughts.
CBOT:ZW1!Long
by trader_investr
Wheat Futures Ready to Pop Again. Same Signal to Start 2020 BoomCOT Data is signaling that Wheat Futures ( CBOT:ZW1! ) are ready to pop after a few months of declines and chop As it currently stands, this is the shortest the Large Speculators have been on Wheat since 2020 where it bottomed at 589'4 to rally all the way as high as 1422'0. By no means do I expect a similar rally to ensure, but this does illustrate how oversold the large speculators are and what the consequences of that can be. I'm looking for a technical long reversal entry on the daily chart to enter the trade and then use sound risk management thereafter Notes on My Trading Methodology and What I'm Even Talking About COT Definitions: - COT: Commitments of Traders Reports - A weekly report published by the government (CFTC) that shows long and short positions of the below 3 groups (As well as much more data I don't look at). We look at the NET positions of these 3 groups and compare them to historical levels to signal trade opportunities 1- Commercials: Hedgers - We want to trade with them when they're at extreme levels (Think Tyson, Cargill, General Mills, etc) 2- Large Speculators: Hedge funds and large institutions - We want to fade them when they are at max positions (Think suits in NYC and commodity funds) 3- Small Speculators: People/institutions trading small lot sizes not big enough to report to CFTC - We want to fade their max positions as well since they represent the public (Think dude in his PJs trading and small trading firms) Indicators on Chart: - The first indicator shows the net positions of the 3 groups above plotted over time - The second indicator is an index of the relative buying/selling of commercials over a certain lookback period. Anything above 95 is looking for buy, look to sell when it hits 0 - Note: Just because the Commercial's net position is negative doesn't mean it can't be relatively net long and signal a buy (same in the opposite scenario) Trade Setup - Both Must Happen: - When commercials are at max levels we are alerted to buy or sell (Depending on the criteria above) - On a daily chart, use technical indicators, candlestick patterns, news, etc to enter the trade (not shown here) - Added bonus when the trend is your friend (I use a Multiple Moving Averages indicator to visualize)
CBOT:ZW1!Long
by Rudeadam18
Wheat Potential For Bearish ContinuationLooking at the H4 chart, my overall bias for ZW1! is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. Looking for a pullback sell entry at 804.00, where the 38.2% Fibonacci line is. Stop loss will be at 820.25, where the 61.8% Fibonacci line is. Take profit will be at 767.50, where the 88% Fibonacci line is. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
CBOT:ZW1!Short
by Vantage
Wheat Mini Futures ( XW1! ), H4 Potential for Bullish MomentumTitle: Wheat Mini Futures ( XW1! ), H4 Potential for Bullish Momentum Type: Bullish Momentum Resistance: 949'3 Pivot: 904'1 Support: 877'3 Preferred case: With the price moving above ichimoku cloud , we have a buillish bias that the price may rise from the pivot at 904'1, which is in line with the overlap resistance to the 61.8% fibonacci retracement to the 1st resistance at 949'3, where the swing high is. Alternative scenario: Price may retrace downwards and head towards the 877'3 support level , where the 38.2% Fibonacci lines located. Fundamentals: There are no major news.
CBOT_MINI:XW1!
by Tickmill
Wheat Mini Futures ( XW1! ), H4 Potential for Bullish MomentumTitle: Wheat Mini Futures ( XW1! ), H4 Potential for Bullish Momentum Type: Bullish Momentum Resistance: 949'3 Pivot: 904'1 Support: 877'3 Preferred case: With the price moving above ichimoku cloud, we have a buillish bias that the price may rise from the pivot at 904'1, which is in line with the overlap resistance to the 61.8% fibonacci retracement to the 1st resistance at 949'3, where the swing high is. Alternative scenario: Price may retrace downwards and head towards the 877'3 support level, where the 38.2% Fibonacci lines located. Fundamentals: There are no major news.
CBOT_MINI:XW1!Long
by Genesiv