My trade idea:
Shorting gold within triangle (weekly chart: ) IF the price increases close enough to the resistance area (roughly 1285-1287,70).
I am going to trade the idea in the following way:
Stop Loss: roughly 1302
Get in: roughly 1282-1285
Take profit: roughly 1225
R/R Ratio: roughly 3
It seems that the resistance line at roughly 11200 holds (see weekly chart: ).
I get into the trade at roughly 11124.
My target is roughly 10477, because even if the DAX is going to go up, it probably builds a double dip at roughly 10477 first.
Stop Loss: roughly at 11337.
Idea (NO financial advice!):
Gold seems to break the resistence line at roughly 1233/34 ( daily chart ) and might test this line again (see first blue arrow). If the line functions as support, there is potential to roughly 1273 (see weekly chart, trend line: ).
In the long run (weekly chart) there is even potential for...
US Wheat (Chicago) hit the upper line of the triangle I draw in the weekly chart. This line - for now - hold and wheat did not move higher.
Furthermore, volume did not really increased during the upmove of the last two to three days. This is even more striking in the weekly chart, where volume decreased in the last three weeks while wheat moved up.
This is a...
Due to a weaker Ruble, Wheat from Russia becomes more competetive which should be solved by a partial decline of US Wheat prices (and by a partial increase in Russia Wheat prices - higher demand for Russian Wheat).
Furthermore, USDA does not expect a declining "Ending Stocks" for Wheat this season although US Weather around Kansas is still very unfavorable for...
The contract was in an upwards trend until it hit a trend line (1st / 2nd of March) I drew in the weekly chart (possible triangle formation). The resistance in form of the trend line hold and the price started to fall. It broke the first support line at 478 (last high) and the second support area at 462 / 459 (last low) with...