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Wheat (ZW)

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WHEAT trade ideas

WHEAT - D - LONGReason for long : I'm pulling the trigger a bit fast on this one, as we don't have yet confirmation of end of consolidation on weekly TF. However, as I'm embarassed to miss the natgas rally (this is one of my favorite asset and I have waited weeks for this to finally miss it because of external factors). I believe raw materials are in for a good year in 2018 as cyclical this market can get. I'm not too much into GOLD/SILVER right now and wait for correction. But WHEAT is also tanking a lot since weeks and altough we made some pips weeks ago on false breakout, this was not convincing. This time may be the same... or not. Trade with your own diligence.
OANDA:WHEATUSDLong
by Bastosai
Wheat Short Position Initiated on Daily ChartWe initiated a short position on wheat futures through OANDA platform on daily chart, based on constructive price action pattern and some fundamental indications that the extreme cautions about the 2017 wheat production are way too exaggerated. As the summer progress we see increasing downside pressure and possible good profit opportunity. Our Reward/Risk is 1, although we expect further downside potential and may join the trend in a later point again. A contango situation when the short position pay off just for holding it is also present that additionally favor keeping this position for longer.
OANDA:WHEATUSDShort
by auroraspot