What Do You Think About Scenarios?Theese are my scenarios abou Wheat. What are you think about my thoughts?
Not Financial advice.
Wheatfutures
Wheat Futures September 2021 ContractThe pattern is currently doing a sideways or consolidation in 1 HR and below. It looks like the selling pressure is present unless if its breaks the red line resistance with a strong buying force. Other confluence for shorts are:
1) Pattern making a reversal at a 61.8 Fibo level
2) Seller coming in, can be seen in Volume
3) Bullish momentum getting less and less
4) Price break 100MA, but yet to respect it.
Entry guidelines:
- I will wait for the price to break the trendline and the support area before going into a position targetting 160-170 ticks below.
Good luck!
WHEAT - SHORT; Continued SELLing for the foreseeable future"Margin pressures; How to survive in an over-provisioned environment." - Was the topic/title of a recent grain cash traders' conference. What does that tell you?...
In short, industry insiders do not expect to see daylight (i.e. profits) as far out as 2025! - And that concludes the essence of all that was said during that get-together.
(Try that on for "inflationary pressures" .)
December Wheat Double Top - Could we be headed back around $6.70
Wheat markets appear to be in the middle of a confirmed double top . IF resistance in the area of $7.17/bu holds, we should be headed back to the $6.70/bu area.
From a technical perspective, the chart shows a classic double top set up with the lower point being violated, a short pullback higher, followed by a further decline. This should set the target in the $6.70 area.
Fundamentally, wheat markets appear overvalued as well. They have been dragged around by corn recently due to the substitution by feed aspect. Recently corn markets have also come under pressure as the market anticipates a large increase in plantings next year, both domestic and globally.
SHORT XWM21 (Wheat Futures May21)We have been on a bull run in the wheat market since June of last year. However the past couple months we hit a high followed by consolidation between 635-685. We formed a double top and price is looking pretty heavy. We broke out of a multi-month support level and price came back to test this area and looks like it is now a new resistance. Looking to take partial profits at 580, 540 and perhaps even a move to take out the lows made at June 2020.
WHEAT Good Signal SellI am a consultant for anyone who needs a consultant, I see that WHEAT Corp will GODOWN IN FEW MINUTES when the market open
1, When you decide to use my ideas in your trading, please contact me to inform you of some things and monitor the position together without specifying a take profit or stop loss, we will decide when to open and close the position
2 (When I set the take profit and stop loss in a number that does not mean that the price will reach it, I gave a buy or sell signal only according to the analyzes I made in the chart and delete it later, in the order to share it with you so that you have a clear picture and read it clearly, thank you!)
3, you can try me for one or two weeks to decide to work with you and give you signals about buying or selling WHEAT
Rising agricultural prices bode well for NutrienWith prices for corn futures, wheat and soybeans on fire, the prospects for fertilizer companies like Nutrien have never been better. The stock trades at only 1.4x book value and pays a 3.5% dividend yield. Earnings surprises (like the prior two quarters) are likely to continue.
As expected wheat arrive to 633 dollarsWheat get the first target after downtrendline break as expected
Wheat future respected exactly the double top patternAfter neckline break, the wheat arrive exactly to double top target...
Wheat Market OutlookHi Traders
The wheat market is under the control of bulls.
We Will see some further potential up move of the price of the wheat market.
Thank you and trade safely.
Buy Signal: 601'6Signal comes from our model-
Geometric Markov Model : In probability theory, a Markov model is a stochastic model used to predict randomly changing systems. Markov Models are used in all aspects of life from Google search to daily weather forecast. The randomly changing systems we focus on are the equity, futures, and forex markets. The geometric element of the model is the fractal wave structure you can find on any chart you look at across any market and across all time dimensions.
Our model focuses on the current wave formation (current state)- geometric price formation along with its volume and volatility over a given time period and using that information to predict the future state- future price movement.
Wheat Futures potential long ideaWheat has validated H&H but we did not hit the target as per pattern, it can be that what we see is the bearish trap. In case wheat to clear and hold 598 level we can see the re-test of 640 highs or move on forward to 680-700 level.
Wheat (CBOT) weekly; SELLSelf explanatory. Beautiful, concurrent signals. There is also a gigantic wall of wheat out there!
GRAIN SPREADS; Kansas Wheat - CBOT W - 2x Corn; Weekly long termCBOT:KE1! CBOT:ZW1! CBOT:ZC1! CBOT:ZS1!
KE (Kansas City) Wheat - CBOT (World) Wheat
These tend to be extremely reliable signals, indicating long term trends / changes, as Wheat itself has a relatively long (~7 year) cycle. (Wheat growing regions spreading from (north) pole to (south) pole.)
WHEATUSD - Something's cookingWheat in October climbed more than 13%.
For the past few days we see the price making a pullback and stopping at the 50MA where buyers jump in again.
There are two scenarios that I see right now:
1) we have a descending triangle in-the-forming with potential break lower if bears win or
2) we are in the “digestion” period of the recently formed higher prices
In either case something’s cooking and those interested in Wheat should stay vigilant and prepare for the next move.
The dropping ATR value might be an indication to support the above theory as major events usually happen when the value of ATR remains low.
The strong uptrend for the time being and the respect of the 50MA favour in my eyes the second scenario, but you never know with markets.
Good luck traders.
Note: I'm no trading expert nor have the ambition to become one! The above is just an idea that I share with the intention of attracting comments and perhaps become a better trader.
WHEATUSD - Price at critical levelWheat is once again at a critical point in my opinion.
The trend on the 4h time frame (TF) is strongly bearish for the past week.
However on the weekly TF is bullish showing higher highs and higher lows.
Right now price following the bearish trend (shown in green) reached the strong support and the 200MA (yellow thick and green thin continues line).
What I wait to see is first of all if the price will break the support and drop further. If it does so the next support is around $5.225.
When these lines are written we have a rejection of this level. If price holds we will have a reversal and we will see a bullish move short-term.
So as always in trading, we wait, we monitor closely and have our finger on the trigger!
We will find out soon enough I think.
Good luck traders
Note: I'm no trading expert nor have the ambition to become one! The above is just an idea that I share with the intention of attracting comments and perhaps become a better trader.
Wheat - S(h)ort the wheat from chaffWheat today broke the support level mentioned as DECISION LEVEL on previous published idea (pls see below for link).
As seen on the 4h time frame above, it also just broke the 38.2% Fib level from the weekly time frame of the last impulse.
The trend remains bearhish (MACD confirms the shift) and the weekly resistance now shifted around the $5.34-5.35 level.
I'm monitoring price to see if it makes the pullback (expected, the light blue arrows) and then depending on how and if it does the pullback, I consider taking a nice short position.
The position I look for should give 140+ pip profit to the next support level of ~$5.16.
Note: I'm no trading expert nor have the ambition to become one! The above is just an idea that I share with the intention of attracting comments and perhaps become better at trading commodities.
