XW1! trade ideas
A Ukraine war is bullish for wheatWheat futures are showing a constant higher lows ahead of a bullish catalyst. That catalyst is a war between Russia and the Ukraine. I can get into any questions as to why I believe the current information suggests Russia will invade upon request in the comments.
This is bullish for wheat futures, The Ukraine is the number 5 ranked wheat exporter globally its wheat compromises 8% of global wheat exports. Most of the Ukraine's wheat production is in the east which would be totally cut off during a major conflict. To make matters worse Russia is the number 1 wheat exporter in the world exporting 17.7% of total global wheat exports. In the event of war Russia would likely be cut off from the swift payment system which would stop most of its international transactions causing massive supply chain issues with the wheat market. These factors in combination with the constant lower highs makes for very bullish conditions.
WHEAT - SHORTA big lower high put in. LT Uptrend has changed, a nice pattern being made on the lower time frame. So this all fits the deflation scenario quite well and we are making the trade. SL TBD but probably above the highs yesterday.
Did you weed out Wheat from your Portfolio?I see more of a buying opportunity coming up than a sell, though the latter is also possible.
Again, commodities trading is volatile so prepare your SL and capital management properly.
Trade cautiously.
ZW long due to everything's happening in the world right now, wheat is just as MANY markets is gonna get highly effected by the situation and it has showed that in the chart.
as we can see the price has had a really good volume, although it's rejected but it's only the start of a trend not the end of it or something, but one sure thing is that its effect is absolute and that rejection is gonna get the market to a point where it's gonna do a pullback to get some momentum and then to just get on the rocket.
this is the weekly chart so the profit is gonna be really good but the risk is higher so get a really good entry and hold on to it.
Food shortages entering back into playThe playbook for manoeuvring - actively adding longs
We can start with a quick review of the general plan for the operation I shall be discussing. I imagine all sitting in longs from earlier in the year are ready to exploit greater freedom of movement which we we will posses a tick above August highs. So to seize the point, our attack is a momentum move, like a sailing boat when we get caught in the wind.
Eyeballing a test of first targets at 900 as early as the yearly close. As can be seen from above, it would be quite wrong to describe these moves here as anything but painful for consumers. Depending on the price action at 900 we are flirting to unlock the GFC highs. We are 23% and counting, time to start swinging the bat!
ZW testing demarks yearly R1 pivot pointWheat futures ZW1! ran into strong resistance at Demarks Yearly R1 pivot point.
WHEAT FUTURESWheat every day gives a beautiful and powerful movement and respects the buttresses, the resistance, and the poison rose so rocket as we analysed it, and God willing to make good.
wheat zw futurWill we see new peaks in the wheat index? I think the price will reach a thousand dollars
Wheat Demand Increases / Swing Opportunity (Long)As can be seen on chart, quite a few positive indicators showing promise for the price of wheat during Q1 & Q2-2022.
Targets, support levels, RSI, Ult_MACD, Volume, Date Ranges and rhetoric can be seen on chart.
Good day!
WHEAT FUTURESWheat has moved and achieved the strong goal. It's now moving astonishingly over a really rugged support area.
analysis grafical for ZWZW t's going to know an upward wave.
So the procurement process has to start.
WHEAT FUTURESToday's wheat moves casually and faces a strong resistance zone from which it can bounce back strongly and descend into strong buttresses.
WHEAT FUTURESWheat moves after it has achieved the strong goal and Ada has penetrated the very strong summit will rise with the strength of Baden God.
A minimum three-wave rally on Wheat Expected - Elliott wave WHEAT made a sharp and impulsive drop from the mentioned resistance levels, at Fib. ratio of 0.382/0.50 and at the level of a former wave iv (795/800 area). We labelled a possibly completed five-wave structure in C at 757 lvl., which means a minimum three-wave rally can now be in the cards, and is already underway.
If only a three-wave rally shows up, and then we see a new impulsive drop below the 757 lvl.. then this would suggest more weakness for a wave C.
If we get more impulsive price movement to the upside, and eventually above the upper parallel channel line, then this would suggest a bullish change in trend, and a completed red A-B-C correction.
WHEAT FUTURESWheat has brought us the target as strongly as it is made clear that there is more to give if God wishes.
WHEAT Looks Promising - Elliott waveWHEAT (MAR 2022) made a textbook example of an impulsive (five legged) wave, down from 831 high, and found a potential low for a higher degree wave A or 1 at the 774 lvl.. Price can now be in a temporary, corrective retracement labelled as an a-b-c flat of a higher degree wave B or 2. Possible resistance is at fib. ratio of 0.382/0.50.
In case if price starts dropping impulsively through the lower corrective parallel channel line, and below the 774 low, then we would consider a completed correction in B or 2, and further weakness.
