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Wheat Mini Futures

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XW1! trade ideas

Wheat finds support? Looking at the July Wheat futures ZWN2019 , the price bounced off of support yesterday and experienced some follow through buying for a higher close today. For analysis purposes, I would call this a long play with a target set for the $5.35 price range. Couple of things I like looking at this chart is the positive trending RSI as well as the solid bounce off of support on the bottom. Overall this chart is trending lower, but I believe there could be short term profit potential on the long side today. A breakout above the 21 day moving average as well as above the 50 day moving average would be beneficial to a long sided trade. Though pressure at the moving average could likely allow bears to take control and push the price toward support. Based on the intraday close I expect some pull back from potential profit taking. The 3 hour view shows a bearish trend reversal in the bar chart, and I wouldn't be surprised to see the price fall back to the $5.21-5.23 area before making a move higher. An entry in that area would be ideal to maximize trade potential. Looking at a weekly view, if the price continues strength tomorrow and Friday we could be looking at a bullish trend reversal. Will have to monitor to see how the week closes. Everything stated above is solely my opinion and by no means a recommendation for a trade. I may or may not hold positions in the instruments I analyze. Lets see where this one goes. Cheers, L.R.
CBOT:ZWN2019Long
by SouthFutures
Wheat is contracting for a breakout Wheat is contracting into a symmetrical triangle and is poised for a breakout. Volatility as measured by a 14 day ATR is the lowest it has been since last year February, this is generally a good sign of a market poised for a large move especially when combined with a definitive consolidation pattern like a symmetrical triangle. Which way the break will occur is another matter entirely, wheat prices have generally been trending downwards over the last 7 years and therefore the recent rally in prices could be seen as simply a correction in the overall larger downtrend. However wheat recently put in a higher lower and higher high and formed what could be interpreted as a very ugly inverse head and shoulders pattern. Based on this observation I am leaning towards the conclusions that a base has been formed in price and a longer term uptrend is beginning to establish itself. Despite this a break in either direction of the triangle will be acted upon. Top side breaks should target 561 while downside breaks should target 478. Stops can be placed at 518 and make sure to seek entries with positive risk reward ratios, ideally 2 to 1 or more. *This is not a recommendation to buy or sell it is for educational purposes only*
CBOT:ZW1!
by MarkE
2
WHEAT FUTURES (MAR 2019), 1D, CBOTTrading Signal Long Position (EP) : 515'4 Stop Loss (SL) : 510'2 Take Profit (TP) : 533'2, 549'4 Description ZWH2019 formed Double Repo Buy at 1d time frame. Trade setup with Buy Limit at 0.382 Level (515.5) and place stop after 0.618 level (510.25). Once the position was hit, place take profit before an agreement (533.25) and 549.5 Money Management Money in portfolio : $280,000 Risk Management (1%) : $2,800 Position Sizing $0.25 = +-$ 12.50/std-contract Commission fee = -$5.64/std-contract EP to SL = $5.25 = -$262.5 Contract size to open = 11 standard contracts EP to TP#1 = $17.75 = +$887.5 EP to TP#2 = $34 = +$1,700 Expected Result Commission Fee = -$62.04 Loss = -$2,887.5 Gain#1 = +$5,325 Gain#2 = +$8,500 Total Gain = +$13,825 Risk/Reward Ratio = 4.69
CBOT:ZWH2019Long
by SuppasitWechprasit
WEAT under pressure?Not really. Instead it's building pressure! All the messing around in the sideways area (dark red) is usually managed to "load the boat". If price breaks out to the upside, there's even a chance that we could forget to find a entry like I have projected with the arrows. What also pops into my eyes is the slightly exponential curve that's begin to build with the last couple bars... Putting the Toe into the water is not a bad Idea for me. If the scenario becomes real, I would load up on new pullbacks. P!
CBOT:ZW1!Long
by Tr8dingN3rd
7
ZW1! Long IdeaHi guys ! My view is a long position for ZW1! according to G20 meeting Trump - Xi Chiping will find a short timely solution about the recent trade war , so agriculture futures will temporarely rebound i think . According to my technical indicators that i use ADX and Vortex index , they signal a buy just for a quick trade . ADX tends to achieve 40 and the + vi is above the -vi which is a buy signal. My target is for now 525. Hope you find that usefull , have fun ! This post is not an advice , it is just an idea so be carefull for any positioning.
CBOT:ZW1!Long
by OmenFinance
Wheat - Time for a choiceWheat has failed 4 weeks in a row to break the 525 price barrier - the weekly MA20 which is in negative direction! If we look at the shape it seems that we will head up, but there are several reasons why we should consider shorting: Weekly MA 20 just above 525 with negative direction Daily MA 50 just above 525 with negative direction We are in decline on the monthly charts 1H, 2H and 4H chart overbought Sell at 525 $ SL - 530 Target 485 $ Timeframe 2 weeks!
CBOT:ZW1!Short
by SlaviToskov