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.
XW1! trade ideas
ZW1 in a strong uptrendThe setup that I am using here is considered to be going against the trend. I'm looking for a small retracement to capture a 1:1 target ratio and make small gains. Normally, I would not attempt this trade, as it goes against my trading plan, but I have a strong conviction that buyers are exhausted and that sellers will come in at the zone drawn on the chart.
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.
Opportunity to Sell Wheat (ZW1!)Hi Again,
Sharing my trade with whoever's interested. Wheat is at an all time high, i'm expecting it to correct.
See diagram above for more information.
All the best and keen to hear your thoughts if you have a different view.
Wishing you only the best.
-KAYJ9009-
Bearish on grains & wheatBeen a while since I posted about agri.
Price is around its average now, I see no reason for it to skyrocket.
I don't think this little rally is a new trend, I see it as a correction.
And the short term uptrend is probably just noise that kindly comes fill my shorts.
Technically the price around 490-495 is a sweet spot to short this which makes it interesting.
We let the amateurs trade everything to make sure they don't miss out.
Market can stay irrational longer than you stay solvent so use a stop loss.
And also, it's not 100% sure the price is supposed to go down, might be wrong.
So in any case, stop loss (or something else) is good.
ZWZ2019-ZSX2019 - Commodity Spread TradingZWZ2019-ZSX2019
Wheat December 2019 - Soya November 2019
Interesting spread between the December futures contract of Wheat and the November contract of Soya.
As it is statistically deduced from our software, in this case the Moore Research, we have a percentage equal to 87% in which this difference is reduced, and therefore, a normal convergence of the two values of the contracts that bring their distance closer to 0 rather than move it away.
The very nice thing about this type of operation is the reduction of the volatility that can cause sometimes big problems. For example if on the soya there should be some important news its value could vary suddenly and the grain, being a correlated of it, would follow it consequently and it is for this reason that through the Spread Trading these potential unexpected problems are avoided.
www.mrci.com
Wheat to rally to 600?Wheat found a bottom and has been trending up, If it could get past the report on monday or better yet rally on it, we could safely call a significant bottom in place. If you're not long from lower, it's probably better to stay on the sidelines until after Monday's report
Bullish outlook on wheatThe weather market is probably not over yet so I am predicting about 6$ wheat by the end of summer/harvest.
ZW1! plan for 18.07.2019Wheat plan 16.07.2019 is active.
Looks like price want to go below 500 point.
Main move I expect up.
Write your in comments what trading instrument do you want to I analyze.
If you have any questions, write private messages.
ZW1!want to long until top of range but short term targets are purple boxes and long/exit bottom triangle ofc
ZW1! - What to expect on 4HR - WHEAT FUTURESPossible trend reversal coming up, needs a few closes below the line marked w/ text. Simple trade guys. If it closes below let it fall, get short on the pull back OR vice versa. No trade yet, just waiting for a directional signal. Gut says short it though. NOT FINANCIAL ADVICE, TRADE SAFE!
more drop for the WHEATwheat formed an impulsive wave to the downside , we expect more movement to the downside for finishing wave four and five
