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ZW1! trade ideas

Wheat Futures ( ZW1! ), H1 Bullish Bounce!Title: Wheat Futures ( ZW1! ), H1 Bullish Bounce! Type : Bullish bounce Resistance : 1108'4 Pivot: 1071'6 Support : 1055'0 Preferred Case: Prices are at a pivot. We see the potential for a bounce from our pivot at 1071'6 in line with 23.6% Fibonacci Retracement towards our 1st resistance at 1108'4 which is an area of Fibonacci confluences. Prices are trading above our ichimoku clouds, further supporting our bullish bias. Alternative scenario: Price might continue to dip towards the 1st support level of 1055'0 in line with 38.2% Fibonacci retracement. Fundamentals: No Major News
CBOT:ZW1!Long
by Rockqet
Wheat futures are momentum! | 7th April 2022Title: Wheat Futures (ZW1!), H4 Bearish Dip Type : Bearish Dip Resistance : 1064'0 Pivot: 1031'6 Support : 982'2 Preferred Case: Prices are on bearish momentum and abiding by a descending trendline We see the potential for a dip from our Pivot at 1031'6 in line with 50% Fibonacci Retracement towards our 1st support at 982'0 in line with 100% Fibonacci Projection . Prices are trading below our ichimoku cloud resistance, further supporting our bearish bias. Alternative scenario: Price might continue to climb towards the 1st resistance level of 1064'0 in line with 50% Fibonacci retracement and 61.8% Fibonacci Projection. Fundamentals: No Major News
CBOT:ZW1!Short
by Genesiv
Wheat Futures (ZW1!), H4 Bearish DipType : Bearish Dip Resistance : 1075'6 Pivot: 1036'6 Support : 982'0 Preferred Case: Prices have approached our Pivot at 1036'6 in line with 61.8% Fibonacci Retracement . We see the potential for a dip from our Pivot at 1036'6 towards our 1st support at 982'0 in line with 61.8% Fibonacci Projection . Prices are trading below our ichimoku cloud resistance, further supporting our bearish bias. Alternative scenario: Price might continue to climb towards the 1st resistance level of 1075'6 in line with 100% Fibonacci projection . Fundamentals: No Major News
CBOT:ZW1!
by Tickmill
Wheat Futures (ZW1!), H4 Bearish DipType : Bearish Dip Resistance : 1075'6 Pivot: 1036'6 Support : 982'0 Preferred Case: Prices have approached our Pivot at 1036'6 in line with 61.8% Fibonacci Retracement. We see the potential for a dip from our Pivot at 1036'6 towards our 1st support at 982'0 in line with 61.8% Fibonacci Projection. Prices are trading below our ichimoku cloud resistance, further supporting our bearish bias. Alternative scenario: Price might continue to climb towards the 1st resistance level of 1075'6 in line with 100% Fibonacci projection. Fundamentals: No Major News
CBOT:ZW1!Short
by Genesiv
Wheat - 2 long / 2 Short scenarios - Good bread takes timeGeneral Wheat seems to generate a nasty SFP. It took out the recent Swing High and then dropped over 22%. With the monthly close coming soon i could image it going lower before finding support. I marked 4 Scenarios which i would be happy to take either. 1. Long (Blue arrow) Price moves to the red rectangle (area 1), finds support and "generates a swing". Price goes lower before breaking above the generated swing where i would then look on a LTF for an entry. Target: A bit under the range high SL: Depending on the LTF entry i wouldnt want to see it going lower than support Invalidation: Price breaking under area 1 Time duration: Days, weeks, months, years... ;) 2. Long (Orange arrow) Price moves under area 1 but manages to retake it. Enter on retest of area 1. Target: A bit under the range high SL: A bit under area 1 Time duration: Days, weeks, months, years... ;) 1. Short (Red arrow) Price moves under area 1 aswell level 2. Enter on retest of level 2. Target: The next big support level (Also in confluence with the 50% of the lower range. SL: A bit above level 2 Time duration: Days, weeks, months, years... ;) 2. Short (Yellow arrow) Price breaks under area 1. Enter in LTF on retest. Target: The next big support level (Also in confluence with the 50% of the lower range. SL: A bit above area 1 Time duration: Days, weeks, months, years... ;) Good luck
CBOT:ZW1!
by a_tale_of_bulls_and_bears
ridethepig | Wheat for the Yearly Close📌 @ridethepig ZW1! Market Commentary 17.12.2020 For buyers the breakout creates the typical starting point, one we have seen many many times before. The fact it is happening on the monthly chart is very telling, this is threatening to impulsive explode to the topside via shortages on the supply side from lockdowns and contractions in globalisation. Whatever may be the case on the climate side (and I am certainly no expert here) it has been one of the biggest crops on year for Russia. Fertile farming at its best... Tracking closely the 600 support, for a move towards 900 and 1350 ... watch out for any battle against this in the coming weeks as we enter into a commodity cycle. Thanks as usual for keeping the feedback coming 👍 or 👎
CBOT:ZW1!Long
by ridethepig
3
Re-entry long on CommoditiesAll commodities on my watchlist www.tradingview.com are still long. yes there was a take profit on wheat on oil below prior days low (usuaylly two days low but because of bars ranges that a much higher than prior day I am using a 1 day trailing stop) Buying new highs on the 5 min chart below prior days low is a valid re-entry pattern. Will we reach new yearly highs? I dont know but we can see that at least a double top should be possible or at least a rally up to 50% of prior down move...
CBOT:ZW1!Long
by responsibletrad8r
Just how deep is the rabbit hole we're peering into?Anyone been to the grocery store lately? Filled up your car with gas? Bought electrical wire at Home Depot? Tried to buy a house? Have you noticed anything? "Transitory" inflation is chomping through all the liquidity infused into the world the last two years. Printing dollar bills doesn't create wealth - it dilutes it. We printed how many trillions of dollars over the stimulus packages, Fed bond buying, and whatever else? Inflation can be succinctly summarized as "more dollars chasing fewer goods". Well, with the last two years we've burned the candle at both ends; we infused massive amounts of money into the system (with no associated productivity gains) and manufacturing grinded to a halt worldwide. So we have all sorts of dollars and nothing to buy. Anyhow, you are all aware of this.....but you may not be aware that we may not even be near the peak of inflation yet. The first chart up there is wheat futures, and you can see it's gone buck wild the last 30 days. What's next? Here we have oil, the backbone of a LOT of stuff, not just gasoline. You know all those goods you need to buy? They have to be transported. You know all the plastic we consume? It is made using oil. Next chart is corn. Me likey corn. Even if you don't like straight-up corn chances are you DO like lots of things made with it. What else can we find. Oh yeah, lumber. Hard to build stuff without it, eh. Continuing on.... to... Natural gas. Next up... (throwing a dart blindfolded). Copper. Have you tried to buy wire lately? Holy crap. I mean the stuff has security tags on it at Home Depot and Lowes. Even things like Gold and Silver, which a lot of people invest in, are actually used as materials in the things we buy. Anything with circuit boards in it will have gold. And yes, people actually do harvest gold from circuit boards! My point with all of this is that life is about to get a LOT more expensive. What will that do? It'll cause Consumer Confidence to crater. This means people will scale back from unnecessary purchases, vacations, etc. Considering our entire US economy is based around consumer spending, a cutback in this will have a profound trickle-down effect. The Fed, in my opinion, has zero choice but to aggressively raise interest rates. It's in all of our best interests that they do that, or whatever else needs to be done to try and shove the inflation genie back in the bottle. Hopefully some of it takes care of itself, because inflation itself erodes the money supply......and as Covid subsides manufacturing bottlenecks should lessen. Still, have you ever been backed up on the freeway in traffic, only to realize that there was no actual reason for the backup? There was likely an accident or some incident earlier, but even long after that has been remedied the backup will remain. So even if manufacturing went back to full capacity this moment, we'll be looking at months and months until it starts to show up in the data. The economy is like one of those massive container ships that are 1300 feet long. MASSIVE inertia. This is why the inflation problems didn't even really show up for over a year after we started printing monopoly money. Unfortunately for us, inertia is a two way street - it's going to take a long time for monetary policy changes to have their intended effects. So the Fed is at a great risk of either coming down TOO HARD on inflation, or not coming down HARD ENOUGH....and we won't know for months. My guess? They somehow screw something up. It's not really their fault, because they are being tasked with an almost impossible situation. Powell isn't incompetent and he's surrounded with the smartest economic minds in the world, armed with more data than we know what to do with. The truth is the economy is just so complex that it has an incredible amount of variables and we really don't know what will happen when we tinker with some of them. We know what SHOULD happen, or what MIGHT happen, or what HAS happened..... but as everyone involved in the financial markets knows this doesn't guarantee a damn thing going forward. Me personally? I think the Fed drives us into a recession. It may be the only way to get ahead of inflation before it becomes a self-fulfilling runaway freight train. .....and what do you think this means for QQQ, DIA, SPX, IWM?
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CBOT:ZW1!
by digital_precision
115