It's Friday, just take profit from yesterday signalThe market did exactly what we expected yesterday, as we see the strong down trend resistence push it to DOWN. Just take profits, have a good week end ! See you on Monday !
Zw1
ZW Down ?In my opinion, and due to my technical analysis I see an upcoming strong sell from this point
Separating the Wheat from the...Corn?We like being long $ZW_F vs. short $ZC_F as both a short-term trade and and longer-term play. Corn has experienced a resurgence thanks to the huge rally in $CL_F prices while wheat have found rock-solid support at $490 per bushel and reclaimed an uptrend line going back to last March. Ratio should be 3:2 in favor of corn contracts.
[ZW] - Key Price Level To WatchKey Price Level To Watch on ZW futures.
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ZWBUY . and if ever it breack the resistance of 5210 with power there is a probability that market go to 5250
ZW1! Futures Chartthere is a probablity that the market will be bearish on short term after his bullish movement
Towards 5800 and maybe beyondI use a graphical representation to illustrate the risk reward ratio if you wish to partake in this trade opportunity.
Green line - entry price at 5582
Red line - stop loss at 5444
Blue line - profit at 5800
With technology these days, there are much faster ways to calculate the profit targets, position size, etc. But I prefer the old fashioned ways to calculate and take more time on studying the chart. Sometimes, halfway plotting it, I may discover things that I may not know in the beginning and decide to abort the trade. Speed kills...........slowly........
Now this is a 1:1.75 risk reward ratio if you choose to take up this trade next week.
Both Day and 1H trend lines are bullish oriented.
Do you have to trade this ?
Absolutely not !
You may not be familiar with this commodity. Or you may think the current Covid-19 situation is driving you to hoard up more cash (a good strategy) and prefer to watch the market on the side. You could choose forex or even cryptocurrency instead of this, why not ?
The market is full of opportunities every single day!!! So there is no need to be cornered to take up a decision NO matter how convincing the author writes it , haha. Remember, your money is YOUR money and NOBODY should care more about YOUR money than YOU!
At the end of the day, when you do make profits, I am happy for you. But unfortunately, if the reverse happens, I cannot take a share of your losses, at least in the monetary sense. And for this, this reason alone you are the sole decision maker of your trades.
I know this may sounds cold or harsh to some people who relish on social trading, teamwork and all. It is like having a drink each night when the bull market is running non-stop before 2019 December. Now, is a unprecedented time, one that we are lucky/blessed/fortunate to experience it. We can emerge stronger and better if we embrace it , learn from it and overcome it , eventually.
Week 13/Su - ZW1! - WeekendMost bullish commercials have been in 20 years, im loading up my entire boat with wheat futures
Don't weed this out from your portfolioyes, many commodities were not spared during the recent virus attack but this wheat has been climbing up nicely along the bullish trend line.
There is more room up there once it breaks the resistance at 5932.
Long Term Prospects for WHEATUSDThe WHEATUSD, symbol ZW, is in a rally within a Bear Market with price trading above the 50 week ema and the 200 ema, but below the 800 week ema. The the long term emas are mostly flat, signaling accumulation / distribution. The price action appears to be finishing up the e-wave of a b-wave which should resolve in a c-wave down into late Spring. There is a definite Seasonal aspect to this market with strong rallies that occur around June time frame.
The Market is in a Bull Market on the daily, with price above the 50 ema, which is above the 200 and 800 emas. The 50 ema is in a strong uptrend along with the long term emas.. Price is topping out in the c-wave of a a-b-c rally and looks like it is putting in a M-Top. Price can be considered to be in an uptrend as long as it is above 549’2.
The Market is in a Bull Market on the 4 hour, with price trading back above the 50 ema, which is above the 200 ema, and above the 800 ema. Price is now technically correcting, having pulled back to the 30 ema, which is a warning. This market is out of E-waves. Probably trade up in the back end of the coming week to finish out an M-Top formation, before starting a greater down-trend.
This is my WHEATUSD look ahead for my own trading purposes. FUTURES trading involves risk. Feel free to comment, but trade off of this post at your own peril.
