Wheat is contracting for a breakout
Wheat is contracting into a symmetrical triangle and is poised for a breakout. Volatility as measured by a 14 day ATR is the lowest it has been since last year February, this is generally a good sign of a market poised for a large move especially when combined with a definitive consolidation pattern like a symmetrical triangle. Which way the break will occur is another matter entirely, wheat prices have generally been trending downwards over the last 7 years and therefore the recent rally in prices could be seen as simply a correction in the overall larger downtrend. However wheat recently put in a higher lower and higher high and formed what could be interpreted as a very ugly inverse head and shoulders pattern. Based on this observation I am leaning towards the conclusions that a base has been formed in price and a longer term uptrend is beginning to establish itself. Despite this a break in either direction of the triangle will be acted upon. Top side breaks should target 561 while downside breaks should target 478. Stops can be placed at 518 and make sure to seek entries with positive risk reward ratios, ideally 2 to 1 or more.
*This is not a recommendation to buy or sell it is for educational purposes only*
Wheat
WHEAT Short Idea ZW1!Hi guys and Merry Christmas ! I post my recent Idea for short positions on ZW1! with a target to 483$. As we see the movement of the ZW1! we see fake breakouts in the recent timeline. After the recent trade wars tall between China - U.S we saw a bullish momentum but it wont last anymore because didnt reached a breakout to drive wheat prices higher. So my target on Wheat is 483 $. Invest with wisdom and be carefull guys !
ZW1! Long IdeaHi guys ! My view is a long position for ZW1! according to G20 meeting Trump - Xi Chiping will find a short timely solution about the recent trade war , so agriculture futures will temporarely rebound i think . According to my technical indicators that i use ADX and Vortex index , they signal a buy just for a quick trade . ADX tends to achieve 40 and the + vi is above the -vi which is a buy signal. My target is for now 525. Hope you find that usefull , have fun ! This post is not an advice , it is just an idea so be carefull for any positioning.
Wheat bull run $ZWI believe Russian aggressive wheat export campaigning has left their supply side depleted again. With rising wheat tenders across the globe and global cooling on top of an end of bullish accumulation phase as per COT analysis the path for higher wheat prices is wide open. Technically the 4h chart fits snugly in a diamond pattern, which upon breach almost always accelerates price action.
Wheat - Time for a choiceWheat has failed 4 weeks in a row to break the 525 price barrier - the weekly MA20 which is in negative direction! If we look at the shape it seems that we will head up, but there are several reasons why we should consider shorting:
Weekly MA 20 just above 525 with negative direction
Daily MA 50 just above 525 with negative direction
We are in decline on the monthly charts
1H, 2H and 4H chart overbought
Sell at 525 $
SL - 530
Target 485 $
Timeframe 2 weeks!
KE1!: Both targets hit. Long on the 1W support.Both TP =574.20 & 588.20 hit as the 1W Channel Up (MACD = 9.620, B/BP = 0.3280) made a 598.40 Higher High. It has since pulled back to make a Higher Low, which was most likely priced at 498.20. This commodity (Hard Red Winter Wheat) is on a very long term uptrend and we are now holding a long with TP = 569, 598 in extension.
Will RJA price action be stopped by the long turn trend line? Seems to be weather related more than anything. I'm not making a prediction.
1W Rectangle. Support tested. Long.The Hard Red Winter Wheat is trading sideways within a long term 1W Rectangle (RSI = 51.682, Williams = -53.356, CCI = 24.4952, Highs/Lows = 0.0000) and the High Volatility (ATR = 43.4643) sustains this movement. After a successful support test, we are long with TP = 562.60.
Fresh Zones in Wheat #OutlookI am not a fan of commodity trading but it comes down to opportunity I take whatever is available. Here is the picture of fresh supply and demand zones in wheat which can be played out with proper risk to reward.
Remember trading is only easy when you consider risk to reward like any other business.
Cheers :)