WHEAT trade ideas

egah59222c

Despite the news from Ukraine about missile strikes on the grain export ports. We have to take into consideration the top 5 exporters of wheat in the world. 1. Russia 2. United States 3. Australia 4. Canada 5. Ukraine This indicates that there is still competition for the top exporters. It will be in Russia's best interest to sell as much wheat at the lowest...

Mordek

I think wheat is about to bounce up, we have double Bullish Regular DIV, we get in to resistance area which make that more possible.

legacyFXofficial

Kyiv's goal is to establish direct access for international ships to their Ukrainian seaports for loading grain. However, Russia has reacted strongly to this development, stating that ships heading to Ukrainian seaports may be treated as potential military targets. The consequences of these actions by Russia have not only affected Ukraine but have also raised...

Duke_of_Brats

Next target is 798 if wheat breaks the current resistance. Two scenarios, either break the resistance or bounce down to create a cup & handle then break resistance. All indicators imply a move up!

RizeSenpai

Wheat first went up after a long period of preparation to hit and complete a Bullish .886 Harmonic BAMM before then coming back down, and now it looks like it wants to bounce back up from the same area due to there being Monthly Hidden Bullish Divergence at the Previous area of Support, though this time I will be targeting a relatively lower high such as the .786 retrace.

Sigmathetrader

Wheat had been accumulating since last month’s So it worth to have a look in my opinion it’s bullish after waiting for confirmation on chart

TrEKone Updated 

Medium-term deal on Wheat. Entrance to retest M5 imbalance The trend is downward, but the imbalance requires a corrective movement input: 668.3 (on imbalance retest) stop: 664.1 tp-1: 672.6 tp-2: 681.1

ShukriMahadi

Chicago wheat tried to stage a Thursday recovery but faded a dime from the earlier highs to close 2 1/4 to 3 1/2 cents in the red. Spring wheat prices also faded 5-9 cents from their intra-day highs, but held onto 3 3/4 to 7 1/4 cent gains for the close. HRW futures extended the week’s pullback with another 5 3/4 to 7 1/2 cent losses on Thursday. The weekly...

lb-counts Updated 

Hello fellow traders, this idea is based on the support/resistance levels and candle formation. The price has bounced off the support level and reversal daily candle formed which suggest finally the trend is to change. The take profit at level of 700 being the psychological and resistance level tested previously. The trade is at 1:2 risk to reward ratio, always...

ShukriMahadi

Key Takeaways Wheat market is facing both bullish and bearish news, creating risks for traders and emphasizing the importance of risk management. Hard red winter wheat crop is shorter than both USDA projections and trade expectations, but news of overpriced wheat in the US and milling wheat from Europe entering the market created bearish sentiment. World markets,...

KH2_Artizan

1. Bullish engulfing initiates support 2. Bullish engulfing confirms support 3. Double bottom established 4. First target and double bottom measured move at 720 5. Second target at 800

KH2_Artizan

1. Bullish engulfing initiates support 2. Bullish engulfing confirms support 3. Double bottom established 4. First target and double bottom measured move at 720 5. Second target at 800

SonicDeejay

View On Wheat(16 May 2023) Wheat is in * Uptrend in short term (Intraweek) * Uptrend in Mid term (Intramonth) * Downtrend in Long term (Last 3 months) We had a strong wake up call yesterday and it ends with bullish tones. Now $640 region is acting as strong support and it can rise higher for now. We shall see $700 region soon. Let's see. DYODD, all the...

JSAL Updated 

WHEAT is on accumulation mode at the moment. The prospect for a big price shift is very high from a weekly perspective. A revisit to 1k levels is possible within the year. SEEDED L at 674.0 TAYOR.

StewySongs

• If price pushes up to and ideally just above our area of value and the majority of the move isn't impulsive, then I'll be looking to get short with a risk entry either after a phase line break on either the one hour or the fifteen minute chart, or after a one hour rejection from it. • If my entry requirements are not met then I will simply wait until another...

StewySongs

• If price corrects and a larger one hour flag forms, then I'll be looking to get short with a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.

StewySongs

• If price corrects and a tight flag forms, then I'll be looking to get short with a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.

pptw

Quadrupple bottom forming in wheat with a higher high in the short term momentum. Note that testing horizontal support for 4th time is also a sign of weakness. However, the new high wave suggests upside is possible. Play your entry and stops wisely.