In the first part of this series we discovered the 
CORN Market maker and the massive position he built down at multi-year lows. Now we are taking a look at 
WHEAT, and as you can see there are some strikingly similar features.
Part one (CORN) link: tradingview.com/v/KoZ1x25Q/
1. Wheat has been on the decline since July 2012, with a small test pump taking place at the beginning of this year. Volume in the time previous to the test pump (09/2011 - 02/2014) was almost non-existent. In comparison toCORN, WHEAT has even less volume trading which we can conclude means that there was almost nobody watching it.
2. Over the past 25 weeks there has been extremely heavy buying while the market maker has built his position. Considering we are at all time lows for wheat and the size of the position built, we may see this run last for quite a while.
3. Watch the CORN/WHEAT pairing closely. They've been taking turns leading each other to breakout. Currently Wheat is up 8%+ this week, withCORN up only about 2%, meaning that I believe CORN will follow up shortly.
Key Range Levels
#1 : $10.60 - $13.50
#2 : $13.50 - $15.70
#3: $15.70 - $17.70
CORN Market maker and the massive position he built down at multi-year lows. Now we are taking a look at WHEAT, and as you can see there are some strikingly similar features. Part one (
CORN) link: tradingview.com/v/KoZ1x25Q/1. Wheat has been on the decline since July 2012, with a small test pump taking place at the beginning of this year. Volume in the time previous to the test pump (09/2011 - 02/2014) was almost non-existent. In comparison to
CORN, WHEAT has even less volume trading which we can conclude means that there was almost nobody watching it. 2. Over the past 25 weeks there has been extremely heavy buying while the market maker has built his position. Considering we are at all time lows for wheat and the size of the position built, we may see this run last for quite a while.
3. Watch the CORN/WHEAT pairing closely. They've been taking turns leading each other to breakout. Currently Wheat is up 8%+ this week, with
CORN up only about 2%, meaning that I believe CORN will follow up shortly. Key Range Levels
#1 : $10.60 - $13.50
#2 : $13.50 - $15.70
#3: $15.70 - $17.70
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.