WHEAT trade ideas
Wheat is set for a higher highAfter making a second high in the forming upward channel, the correction to 200 EMA took place. The reversed U shape of the volume structure signaled the correction stop around 200 EMA as supported by the whole array of daily tails. Wheat is set to move upwards to the new price territory in the area of 6.00.
WheatUsd - correction in uptrendHarmonic pattern and nice place to buy - uptrend and small correction as you can see. Now we are looking for the best price to get in and I think that this is the right one. If price goes to 88.6% Fibo level it would be nice to enter in long position in that moment. Our Take Profit order is far away from that point....
WheatIn this plan I am turning my attention again to the agricultural products and especially the wheat. We are going to try to extract profit on the long side. However, in the plan you can find and possible scenario on the short side as well.
You can check trade full fundamental and technical analyses in YouTube.