ZW1! trade ideas
WHEAT BY THE END OF 2021 TO REACH 1100 WHEAT FULL TARGET 1350,WHICH MEAN 50 CENT PER KG.
LETS SEE HOW THIS UNFOLDS
Cycles top very soon, time to take profit.Check my related idea. Daily cycles that fuelled the recent move top somewhere around the 22nd of January and the longer term cycle is down till late February. All upside price targets have been reached and it's time to take profit and consider short. To see real weakness wheat has to close below 650.
Listen to Aristotle "As it is not one swallow or a fine day that makes a spring, so it is not one day or a short time that makes a man blessed and happy."
We lived in a fast paced society and the silly need to compare with what others have have become an obsession to many! We compare cars, houses, enrichment programs and even the stocks we buy. It seems that we are living in borrowed times as if achieving these material things will make you happy. But there is no end. Once you got the first possession, you knew you could have another if you tried once more. And the cycle repeats.
By itself, it is part of the growth process but the essence of chasing it blindly and oblivious to other important facets of your life like Family , Faith, Health, etc are put on the pedestal. Worth it ? I guess those who are nursing their health back will be more than ready to exchange their wealth for an extra year or those who made it to the top at the expense of losing their family would love life to give them a second chance.
Life can be brutal and lessons are painful as well. We may not get second chance and some mistakes are irreparable. Thus, our actions leads to consequences and when we pick one end of the stick, invariably we have the other as well. It comes as a package.
So choose wisely, my friends ! Investing as I have realised is more than making capital gains. It is a reflection of who you are, what you want in life and how you go about acquiring it. Your greed, envy, anger, etc will be a driving force to get you to trade more , to take revenge in the market , to accelerate your time spent in front of the laptop monitoring the price. On the other side, peace, love, faith, abundance mentality, family, charity can be your end results when you achieved what you want in your investment objectives. 2020 is over and it will never come back.
Blame it on Covid-19 pandemic or not, no one , not even the world's richest nor powerful man can claim back the lost hours. We must march on, seize the moments in front of us daily and have the courage to take actions, adjust our directions and slowly but surely get to where we want. In this pursuit, others are watching and our actions, behaviour become their role models to learn from, to pass down from generations to generations.
Wheat FUTURES hits Target Zone My Trading Strategy is scall the Setup. This is the Setup 1 entry method ... Just wanted to highlght the most recent setup formed on WHEAT Futures Contract. IT's now hit the Target level that I like to call TZ1.
I used to trade the Commodities Futures back in 2009 and made some good money. Don't know why I stopped? Perhaps the FOREX volatility had my attention...
Understanding candles pattern in Wheat 1H chart Reading chart is always backwards and forward looking in a sense. There will always be (except IPO stocks) historical patterns on different time frame to give you ideas where the price is heading.
In this case, it is quite clear where the support and resistance is. Once you identified it, you can then map it across the longer time frame like Day and week to know the bigger direction and decide if you want to go alongside and ride the main trend OR trade the shorter time frame based on the patterns shown. So, you can make money shorting on pullbacks, you can also make money going long when it is bearish.
Thus, using the words ' long or short is meaningless unless you map it across the time frame. One author can say long SPX500 in the long term and he is probably right and another might want to short it and he too can be right ! The important thing is what time zone are you trading on ? Are you comfortable with the risks that tags along ? If not , stick to what you know and not follow others blindly. Everyone has a different risk tolerance. Just like running a marathon is not everyone's cup of tea but most can take a 5 miles run on a leisure pace .
Be comfortable and not compromised in your trades.
Time to keep an eye on Wheat - headed for a bull marketA break above 6 per bushel likely launches a significant move. I have no position - just watching
New year resolutions 2021It is the beginning of the year and this is the time when you are likely to see membership in gyms, yoga, fitness centres pick up.
We are all living our lives in separate rooms and also in a big room. Let me explain. You see, when you go to work and if you do enjoy your work, then you derive not only financial compensation but you also gain friendship, teamwork, leadership skills, etc at work. This is something that is transferable when you move on to the next vocation.
So this year, 2021, what would you like your new career to be ? The pandemic may hit some of us hard, especially financially and that is where most of us derive our main source of income from. And where that collapsed, we find ourselves in a pitiful state trying to live from hand to mouth and worrying constantly about bills, mortgages, etc.
Make a firm decision that you would do SOMETHING this year ! There is no need to spend lots of money , just some tweaking of your daily habits.
Here are some of my suggestions and things that I do :
1. Get a clear glass container - This is where you deposit a minimum dollar coin into it each day. Seeing it filling up is satisfying. And when it reaches a certain level, you can use it wisely for investment.
2. Food - Despite the pandemic, it seems like many of us are still eating food no less but more in my observation. The trend of food delivery where we can now access to a wide variety of food 7/24 makes it scary. Scary because we humans sometime lack discipline and we overeat. That means, piling on a wide suite of lifestyle diseases like diabetes , high blood pressure, cholesterol,etc. Make sure you exercise more than you eat as a rough guide.
3. Transport - If pre-Covid days , you have been cruising on Uber and Grab and make it a lifestyle, make an attempt to change it this year. Maybe not all days but 2-3 x a week. Make an effort to take public transport (especially in Singapore where it is so convenient, affordable and accessible). First you get to walk the extra mile, give you heart a good exercise and also save some money.
4. Smoking and drinking - I have quitted smoking many years ago and also do not drink. Remember, your health is your own responsibility, not others. So, make a conscious effort to quit it this year! You will be amazed how much more energy you have after you did it and it would be the best decision you ever made in your life !
5. Watching TV - I am guilty ever since my wife subscribed to Netflix. So, I am limiting myself to an hour maximum regardless how interesting or exciting the plot of the story may be. Sitting in front of the TV, munching bags after bags of snacks is a sure way to put on weight, destroy your brain cells and most important of all, an unhealthy way to spend your time.
6. Exercise - I cant say enough of this. Lately, I am quite obsessed with swimming and have been practising hard for it. I do see some improvements but I know from my coach perspective that I need to work on the techniques, stamina ,etc.
No need to sign up expensive gym membership for a start. Just make a point to walk more. For example, you can alight one stop earlier and walk to your destination. Or hit the parks around your residence in the evening instead of mindless surfing the net or updating your social media profile !
7. Reflection - This is a important part for me as by now, some of my followers know that I write quite a fair bit. Time passes fast and before you know it, January is over. So make a point to write down what you want to achieve this year. It need not be an audacious goal like conquering Mount Everest or things like that. It can be to hit the road 2 times a week. That is a good start. Then gradually increase when your stamina improves. This year, I want to be more mindful of the way I communicate with my kids as I know I am a role model to them. I need to watch my non-verbal as well as verbal communications. It is not going to be easy but it is important so it is a MUST DO on my list I will be conscious and think through my words before it blurt out from my mouth. Patience - yes yes yes , not only in investment but also towards raising kids. If God is so forgiving towards my sins, there is no reasons that I can't forgive others especially my family members (no matter what they did ). It takes time, effort and practice.
8. Investment - I put this last because there is so much to reflect on. Reading through some of my past posts, I realised at times , I still allow noises, greed, pressure to overtake me and I succumb to their evil plot. So, this year, I want to be more consistent in my trades and investment. In short, I need more sources of capital to shore up on my portfolio. There are still many good companies that I have or have not analysed that have good potential to grow. I will post them as soon as I find time to analyse the charts.
IF this area is something that you want to embark on , I welcome you to join me in this journey of discovery and excitement. Again, I have followers (some in SG and others elsewhere) asking me to conduct an online course as they are keen to learn about my strategies. I promise to carve out time for this and will make known my decision of the dates and investment needed.
Lastly, I wish everyone a fabulous 2021 year ahead and I earnestly believe this will be our best year ahead. Take MASSIVE action Today !
Wheat forecast.Read the previous idea on copper, same style but with wheat. By Jan 22nd expecting a cycle top and a price target of 660, cycle low on Feb 16th with a target of 575.
*Futures trading involves a substantial risk of loss and is not suitable for all investors.
Could see Wheat challenge $7.00Low USD and others grains on a roll I dont see a reason why Chicago Wheat wouldn't challenge $7.00
WHEAT - ZW1! may start another up-leg soon... On Weekly chart, the engulfing candle the week before seems to be an up-turn again.
I will be watching WHEAT closer in this week.
there is a strong resistance between 620 - 630.
Pay attention here.
If breaks, 700-720 is short/mid- term target.
( this is my personal view and not a trading advise. )
Traditional|XW1!|LongLong XW1!
TA:
More accurate entry into the trade is possible when the upper border of the blue zone is broken (Screenshot attached).
On the weekly timeframe, you can select 2 trend zones 23.07.12 to 08.08.16 and 09.08.16-28.09.20, the first trend zone is expressed by a price decline and a long-term downtrend (highlighted in red), the second zone is a price consolidation zone after a fall, and this zone can also act as an accumulation zone (highlighted in yellow). Since the consolidation zone was first formed by a new historical price low and lasted for a long period with constantly increasing min/max in the consolidation zone, I can conclude that it was an accumulation zone, after which in theory an uptrend begins (green zone) (Screenshot attached).
In the consolidation zone, due to rising by a small difference from the previous min/max, a channel was formed through which the accumulation zone passed, 12.10.20 this channel was broken. The initial attempt to gain a foothold above the channel was unsuccessful, but after repeated testing of the channel, the price again turned out to be above the resistance level of the channel, I can interpret this as the strength of buyers.
The output of the channel completely changes the dynamics of price movement with 09.08.16 because now the new maximum is much higher (compared to the update min/max in the consolidation area), therefore if to fix above channel does not work, then next low will be as much higher than the previous one, maybe he will be on the newly formed local trend support (Screenshot attached).
The possible take zone was determined using three fibonacci levels, the global, trending descending fibo level and the fibonacci level to determine the take price (orange zone) (Screenshot attached).
Other scenarios of development of events are also defined, with the exception of the first successful scenario (orange path), 2 other local options are highlighted:
1. Red way - it is impossible to gain a foothold above the channel resistance level and the price is adjusted to a new level of local trend support, after which it is sent to the channel resistance retest by rebound.
2. Red way - to gain a foothold above the resistance level of the channel does not work and the price is adjusted to the new level of local trendline of support, if we hold this support failed, price is free to fall to the support boundary of the channel, where you can gain solid purchase.
The stop zone can be determined based on the actions performed, in case of opening a trade on the breakout of the blue zone, the stop can be placed for the support level(former resistance) of the channel or for the level of local trend support.
Globally growing XW1! it can be higher than the specified take, it is possible to increase to the previous highs (947'0).
Wheat Sad story for people hungry in the world...
but at the make it or break it point
Still mostly bullish but rejected at the usual spot...
