• 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.
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.
Wheat looks bullish from a support zone of 775; a bullish rejection of the current candle in the area marked 5 will give a potential rise up to 784 for a bias of 788.66.
After the initial spike induced from the war creating a higher demand in wheat, we are now seeing a pullback from the highs. Fibonacci levels line up pretty well with resistance and consolidation levels. Good support around the $6.8 to $7 with first resistance being at the $8 level and heavy resistance at the $8.50 mark. Keep in mind that after very quick moves...
Overview The main view of this trade idea is on the Daily Chart. The commodity Wheat is in a descending triangle setup, with the resistance trend line at lower highs of 949.08 and 798.34. These lower highs occurred on 10th October 2022 and 30th December 2022 respectively. The support line is observed around the 730 price level. Expectations are for the support...
There was inside bar price action on Wheat in the last 2 trading days at the support level. Will this cause more buyers into wheat? N.B - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades
Wheat price decline stopped around 740.00 areas, to start rising and hint heading to achieve expected gains in the upcoming sessions, on its way to visit 778.10 mainly. Therefore, the bullish bias will be suggested for today, and breaching 758.50 will ease the mission of achieving the mentioned target, while breaking 745.00 will stop the expected rise and press...
After a 3drive in the daily TF and reaching the origin of the upward movement, there is an expectation of a rise to the $914 zone. Before that, $883 will appear as an important resistance. So don't forget position management...
I think the price is in a zigzag pattern, and the next wave will be another drop. Bullish, than bearis
I'm not reading too much about the politics, but the price suggest for me that the mini wheat crisis is solved. More possible drop in the cards.
On Monday, Ukraine struck several Russian ships-turned-submarines, Russia wanted to withdraw from its grain corridor agreement. Earlier today, Turkey has re-emphasized that corridor will remain in place. Both news had major impact easily seen in the Wheat futures charts. I think it will calm for a few weeks ahead now. Random unscheduled news are more likely to be...
Here I lay out my trade idea for Wheat. Given Global Macro events, technical patterns and indicators, I see a long here. 3:1 RR 1% Risked. Let's see where this goes!
My backtests, September and October are not good months for long swing trading, but Im finding some reason from last WASDE reports *****************September release on wheat – U.S. wheat outlook for supply and use is unchanged this month – Global wheat outlook raises supplies, consumption, exports, and ending stocks this month, as production increases for...
Not so nice and jolting "pumps" on the chart of wheat. It means that all of these assymetrical, not impulsive price pumps have corrective role. Obvious, because all of these are moving in one nice and clear corrective channel. I'm waiting for the last HH. Bullish, than bearish
Wheat surged $60 last night as Russia annouced votes in the local donbas regions they control in Ukraine. Critical to the wheat exports the port in that area also means perhaps sanctions and increased fighting may hurt global supply already under pressure. Adding to momentum is global headline news about beer shortages which adds to the grain rally. As long as...