WHEAT trade ideas
WHEAT - D/W/M - LONGWe already traded WHEAT weeks ago with some success, and I found this setup quite interesting. On daily we have another nice breakout, that could lead to another false breakout. But in this case we are narrowing down on the support and resistance so we should see some break in the following weeks.
Taking into account macroeconomics, I'm betting more on the upside than downside for WHEAT.
I added a mid-range TP that looks achievable this year.
This is a long trade, so be prepared to keep this one forever. SL (if any) should be around 3.55.
Trade with your own diligence.
GL HF
Engulfing pattern 2well we see that traders break through the resistance not once but twice. But, we haven't seen them near the support area with the first pattern and with the 2nd.
While I am not truly analyzing this to come to a trading plan with this specific stock/commodity. I do have additional questions with my limited knowledge. Was the stock oversold at one point? Did something happen with Wheat in the U.S.A? Is there a shortage/failed crops and this increased the price of wheat? Is there a new regulation on wheat? Do not many people purchase products with U.S.A wheat in it?
Well I think sooner or later this stock with drop steeply.
Will it drop to the 4.510 or 4.370?
A chart for me to ponder as I go through Mr. Nison's book.
Another shortWe are aproaching the main trendline, evalutationg the seasonality i'll put a short order.
REVERSAL ON WHEAT COMING VERY SOON! Right, prices could appreciate to highs of 5.000/5.2000.
HOWEVER GUYS.
Expect a very sharp reversal very soon!
I believe that we're in for a very lucrative trade, I think that we're in for a short down to lows of 4.300/4.100.
LET'S GO, LET'S SEE WHAT HAPPENS NEXT!
TP: 4.300/4.100
WHEAT WHAT'S GOING ON?!Well, Well, Well.
I anticipated wheat to reach lows of at least 4.200 if I'm being totally honest, however I had to leave this trade alone. Wasn't as lucrative as I thought it would be prices reversed to the upside!
You win some, you lose some guys!
Such is life!
WHEATUSD buy around 4.35WHEATUSD buy around 4.35.. 200dma , 62 fib and trend supp.. Hard to go below that bar a major event
WHEAT USDLooking at buying WHEAT with a Win lose ratio of close to 1:2
Good Doji forming. Although not at the most confluence area
WHEAT/USD HOLD ON GUYS! (UPDATE)So guys I'm currently waiting for a decisive break out of our key level.
PATIENCE GUYS, let's just be patient!
WHEAT $$Dear Traders ,,,
Today we have wheat rejected every time to break the Resistance trend line.
So as result we are looking to short soon.
Regards
MENA-FX
CAN WE STILL GO LOWER ON WHEAT?Alright, so I've been looking at wheat for some time now, and to be totally honest I don't actually think that we're done from a selling stand point. I believe that prices could still go lower, potentially near the 4.400/4.200 Region.
ALSO!
If this happens I'll be more than ready to buy the reversal up to highs of 4.700 after our bear run!
TP: 4.400/4.200
WHEAT longCommodity market long therm looks like bulls want to take control, moreover commodities are the best performer out of different asset classes during rising inflation period. On WHEAT I will be waiting for pullback, and then next cycle to the upside targeting upper descending resistance line, looking for the same pattern as in SOYBEAN.
# CFD WHEATUSD Rising WEDGE Pending sell option#WHEATUSD is in a consolidation pattern as a rising wedge in case of the loss of upside momentum can give the pattern a bearish bias and the final break of the support indicates that the forces of supply have finally won out and prices are likely to be lower!
Let's see how it goes!
Good Luck............
WHEAT - D - LONGReason for long : I'm pulling the trigger a bit fast on this one, as we don't have yet confirmation of end of consolidation on weekly TF. However, as I'm embarassed to miss the natgas rally (this is one of my favorite asset and I have waited weeks for this to finally miss it because of external factors). I believe raw materials are in for a good year in 2018 as cyclical this market can get. I'm not too much into GOLD/SILVER right now and wait for correction. But WHEAT is also tanking a lot since weeks and altough we made some pips weeks ago on false breakout, this was not convincing.
This time may be the same... or not.
Trade with your own diligence.
