Wheat looks good for a long ride to the upsideThe prices are at the lows and the structure shows a rejection at low prices and, it´s ready to launch the price to the upside and recover part of its year looses. Good luck!Longby richard7_Updated 225
WHEAT, start planting now for a MASSIVE HARVEST...WHEAT: BOUNTIFUL HARVEST SOON... if you seed at the current price range. KEY NOTES: WEEKLY DESCENDING TRENDLINE BREAKOUT. Monthly shifting price lines. HUGE HINT! Weekly histogram higher lows. MONTHLY HISTOGRAM SHIFT -- CLOSING UP TO BREAK SOON. SEEDED LONG (long term) 628.0 TAYOR. Safeguard cLongby JSALUpdated 1112
Wheat: double-top then back to fundamentals or La Nina concerns?Wheat has completed five Elliot waves up and with bearish fundamentals on the ground remaining, an ABC correction may now be in order. If the rally has in fact exhausted itself, then a double-top which has often followed wheat rallies would not be unusual here. The conditions for another bounce ofLongby R0llins_1
WheatUSD Oanda Buying Breakout Trend ContinuesRealising my folly from my previous trade, I recognised my faults. Recap - 1st - I traded with the Higher Time Frame and Entry Time Frame Trends, but I am actually entering on a opposing trend against the Lower Time Frame, and that is why the price never move in my intended direction after hours. Longby ProfessionalDuckHunterUpdated 0
Wheat: Megaphone down wave vs impending Golden CrossOn wheat's daily chart, the rally appears to have completed 5 Elliot waves up. Bearish fundamentals of current ample supply may now play out in an ABC correction, though how deep with a La Nina expected to affect Russia it remains to be seen. Beyond an ABC correction, it's possible to consider thatby R0llins_0
Wheat in Elliot Waves pt.2: Fifth wave completed?Wheat saw another bullish end to the week after a favorable USDA report. In the last post, we looked in TA terms at whether the current rally's first impulse occurred in March or on April 19th. The latter (in pink numbers) seems to have been the case as we saw the 5th wave up to near the 2.618 Fibby R0llins_0
Wheat in Elliot Waves: rally's first impulse?Wheat has rallied since April 19 due to short covering and various weather concerns, and various analysts expect the grain to return sooner or later to the fundamentals ample supply. From an Elliot Waves perspective on a daily chart, it's possible to see a 5 wave structure marked in yellow 1-5. Howby R0llins_0
WHEAT - Bottom is near!After a failed rally, it fell down the break the last low and is now grinding out a bottom. This looks like a good opportunity to long by buying small positions every week for next few months. There has also been a completion of a three-wave correction, which helps to further strengthen the case thaLongby TheTrexUpdated 11
Wheat is trading in a falling wedge!Weekly chart, wheat cash contract is trading in a falling wedge! Will we see the 435 - 400 price level or rebound upwards from 520 - 525? It is tough to confirm.. However, this falling wedge pattern has a higher probability that the price will cross the resistance (line R) upwards towards 745 and 7by snour4
We are observing a potential "breakout" pattern. The price has broken through the downward trendline, which is drawn by connecting the lower highs on the price bars. The breakout indicates a possible end to the downward trend and may suggest a change in momentum.Longby Spira_Scalper2