WHEAT FUTURES 240 CBOT Updated 7/19/2016Wheat chart showing a zoom and retest of pink median line, look for break of low to show more opportunities to short.
Wheat
CBoT wheat still keeping us uncertain.Wheat:
Price keeps us in limbo what side to chose already since quite some time and we have made some wrong calls during the past weeks. There could be a 'bear-flag-pattern' on this chart with possible target 380. We are waiting and not touching.
CBoT Wheat almost ready for a longWheat:
Price has traded down over 20% in about 5 weeks time and shows signs that the move to the down side is mature. The picture of last week's price development suggests that we should expect one more mild move to the downside after which we anticipate a 10% rally. Traders keep their powder dry for one more week and can start looking for a long play opportunity at 405/395 with a stop at 380 during week 29.
Wheat at Monthly Low. Looking to Long on D1 TimeFrame.Wheat is now at monthly support. Looking at the low formed in June of 2010 as the support.
Since then price has slowly corrects back.
Price has now currently gone below it and move back up again.
Looking to long if go above the 5th July candle high.
Target to TP at least at 620'6 level..
Wheat at Monthly Low. Looking to Long..Wheat is now at monthly support. Looking at the low formed in June of 2010 as the support.
Since then price has slowly corrects back.
Price has now currently gone below it and move back up again.
Looking to long if go above the past 2 days candle high.
Target to TP at least at 620'6 level..
Potential Kangaroo tail / Hammer candleKangaroo tail / Hammer candle (at the time of publishing idea)
- Important support zone
- A lot of room to the left
- Nice candle formation
Only place the order a few minutes before the next candle formation (on daily chart) if the candle still has its form.
Wheat Futures 240 CBOT Updated 6/30/2016Look for price to continue to drop down
to 420 area. May retrace to ML for short
at Down Arrows
Wheat CBoT still cluelessWheat:
We still do not see a lot of possibilities in this chart and, after having made wrong conclusions twice in a row, we want to wait and see what develops from here. We have a drawn a possible scenario on the chart which we will keep look at but looking is all that there is to be done as far as we are concerned.
$WHEAT - La Nina is coming !Very often in the correction, wave 'Y' has the form of a triangle. Watch out next #USDA report.
www.businessinsider.com
Wheat - the next big thing?Wheat has excellent potential in coming weeks.
Pay attention to COT report. Open the link finviz.com and proceed to the weekly chart of wheat. Notice that hedgers
are spiking. The entry signal would be the spike in COT reports.
WHEAT FUTURES 240 CBOT Updated 6/21/16Possible long in this area, for a few, but price is showing extreme bearishness, so blue median has to hold.
CBoT wheat leaves us clueless againWheat:
Our last week's sell stop was hit and within 3 sessions our stoploss was hit as well. We have been uncertain about this market for quite some time and stepped in based on an analysis that proved to be wrong. Time for us to leave this market in peace for a while and to see what happens next. No need to dance on all parties.
Wheat CBoT long play opportunityWheat:
After price left the woods it advanced rather impulsively which initially made us decide that we were too late to take the ride up and that we should rather let go. In meantime price has made a reversal in order to test the break-out zone where it more or less has arrived at the close of last Friday.
It seems that the market is offering us a second chance now which we will make use of at 492 with a stop at 481 basis EOD.
Wheat CBoT possibly getting ready for a long playWheat:
After about a month of moving back and forth in a zone that we described as 'the jungle from where we do not see the exit' the price has come out of the woods on the upside. This encourages us to have a look at possible long play. However, before we will feel comfortable to entertain a long trade we first need to be sure that this is not a bull trap. If we are convinced of that we will look for a possible entry point in which our stop-loss level is actually more important than anything else. After all, guarding and preserving the trading capital is more important than making a profit.
Wheat: overwhelming pessimism leads to a bottomWheat has formed a gigantic weekly base, and is ripe to rally once price moves above 469'6.
It's a bit premature to buy, but we could get away with huge R multiples if this trade setup works.
Open long positions on a break of this level, with stops under the previous week's low.
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Link to Tim West's chatroom: www.tradingview.com
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Wheat CBoTWheat:
Price is, as far as we are concerned, still 'in the woods' and we still want to stay away until we see a convincing development.
Weighted Basket of 5 Agri Commoditeis - Hyperinflation Coming*EDIT in text quote on left of chart - *Synchronicity in between
I have created an equally weighted portfolio of 5 sustenance based commodities including Soybean, Soybean Oil, Sugar, Wheat, and Maize (continuous fwd contracts). This is an update to the first chart I have published (rough rice) which isn't updating for some reason but if you see the RR1! graph on another website you will see that my analysis is 100% on point so far and even identifies exact msp level prior to breakout. I am expecting sustenance based commodity hyperinflation in the coming years as we enter a macroeconomic environment that the economics textbooks have never described. The money manager commitment data points to breakout, technicals show clear range suppression and evident accumulation pointing to impeding breakout. Global trade statistics are abysmal, statistics of subprime/consumer debt/corporate debt delinquencies are abysmal, PE ratios of leading equity markets are abysmal. I do not wish for this to happen because this will affect billions of people but this is most likely what is going to happen. Best of luck.
Wheat LongI still haven't come across any compelling justification to get long besides my technical read. Most fundamentals, crop yields, weather all appear to suggest we go further south but we are now in my buy zone
Wheat Futures 240 CBOT Updated 5/24/2016Price broke down, and is testing and holding near lower Median Line on Modified Schiff
Wheat CBoTWheat:
Nothing much changed in our views on this market. We are still in an area which we see as a jungle from where we see no exit (either up or down) and we want to see that price breaks out of the 450/485 'no-mans-land-zone' before we pick any side. The moves during the past week and, maybe oddly enough, especially during the last 3 sessions start making look us to the upside very carefully but we are still not ready to take a bullish bias unless the 485 breaks.
