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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!
CBOT:ZWU2021Short
by AMianz
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.
CBOT:ZWZ2021Short
by BottomLineRisk
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.
CBOT_MINI:XW1!Short
by amirtrades
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
CBOT:ZW1!Short
by soufianchiekh
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.
CBOT:ZW1!Long
by IngenuityTrading
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.
OANDA:WHEATUSD
by A_Bouras
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.
OANDA:WHEATUSD
by A_Bouras
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.
OANDA:WHEATUSDShort
by A_Bouras
WHEATUSD waiting price to reach decision levelWheat after our recent profitable prediction (pls refer to previous published idea) is now looking for a direction in my opinion. It failed yesterday to break the $5.42-5.43 level so now we have a stong 4h bearish candlestick. Still I'm unsure what the outcome will be. The MACD 4h took a turn and is now approaching the signal line with momentum to go bearish. However I'm monitoring price at the 4h time frame waiting to see what will happen when/if the price reaches the support lever of ~$5.34. That's why I named it DECISION LEVEL. Depending where the price will go and how it will go to wherever it goes, I might be able to base my trades. So let's wait and see what happens. I just love the markets! :-) 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 attacting comments and perhaps become better at trading commodities.
OANDA:WHEATUSD
by A_Bouras