Classic TechnicalsHello everyone!
There is a little mystery.
I suppose we could face a big change soon.
All depends on pattern we see.
Let the market play it's game.
Waiting mode.
WHEATF trade ideas
WHEAT – Signs of Weakness, Could a Short Be Next?PEPPERSTONE:WHEAT is within a clear resistance zone that has times before led to bearish reversals. In any case, this zone marked by previous price rejections, could once again attract selling pressure.
If bearish confirmation occurs—through rejection wicks, bearish engulfing candles, or a decrease in buying volume—we could see a decline toward the 544,00 level.
However, I’ll be watching for strong support reactions or signs of exhaustion before confirming the next move.
Just my take on support and resistance zones—not financial advice. Always confirm your setups and trade with solid risk management!
What’s your take on the potential trend of this chart? I’d love to hear your perspective in the comments.
Best of luck , TrendDiva
Wheat- In a Clean Resistance Zone, can it reach 542.00?Wheat is already within a critical resistance zone that has times before led to bearish reversals. In any case this area, marked by previous price rejections, could once again attract selling pressure.
If bearish confirmation occurs—through rejection wicks, bearish engulfing candles, or a decrease in buying volume—we could see a decline toward the 542,00 level. However, a breakout above this resistance would invalidate the bearish outlook and suggest potential for further upward movement. So keep an eye on that.
Wait for clear signs of rejection before considering short positions.
WHEAT - Bullish TrendTechnical Analysis:
- WHEAT is breaking out neck after Bullish Divergence, Double Bottom reversal pattern formed, will it move towards its target?
Fundamental Analysis:
- COT report is also in favour of this trade.
Seasonality:
- Bullish from last week of January.
WheatI'm targeting 596.5 in wheat, In principle I'm long in commodity & assets against US dollar. The dollar is & will be week because of huge debt
Wheat in Perfect Harmony Harmonic Bearish swings in Wheat, it's been a while since l last saw this beauty.❤️
Always Trade What You See and practice good risk management !🍻
WHEAT: Confirming bottomWHEAT: Confirming bottom
-Hard support in the past.
-Quasimodo pattern.
-Less vol support for a breakout and confirm bottom.
-Key level support.
US STOCKS- WALL STREET DREAM
Buy the dip on #WHEATThe pressure on wheat prices due to oversupply mostly priced, and wheat take off is loading. The potential is almost 3x in long-run. Let's watch it!
Breakout Parallel Channel, LONG?
To form a H&S pattern? And, also breakout a parallel channel for a uptrend, set a SL and my target price to hit the right shoulder line.
Hope my strategy work.
WHEAT, start planting now for a MASSIVE HARVEST...WHEAT: BOUNTIFUL HARVEST SOON... if you seed at the current price range.
KEY NOTES:
WEEKLY DESCENDING TRENDLINE BREAKOUT.
Monthly shifting price lines. HUGE HINT!
Weekly histogram higher lows.
MONTHLY HISTOGRAM SHIFT -- CLOSING UP TO BREAK SOON.
SEEDED LONG (long term) 628.0
TAYOR.
Safeguard capital always.
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RELATED NEWS:
WSJ ARTICLE:
Severe Drought Stunts Great Plains Wheat Crops
Harvest in nation’s breadbasket forecast to be the worst in 60-plus years
June 17, 2023 10:09 am ET
WHEAT - RSI, exhaustion of global markets, negative news LONGDear All
this idea is just an idea not a trading advise! My view on the Wheat market that has been dropping for a while moving away from a EMA200 (daily) and RSI levels, divergency all signals telling me...time to Long!
S/l as indicated, T/P at Fibonacci levels close to resistance
WHEATF / Bullish Up movementI think it's time for a little more adjustment. The set targets are standard and I think all three ones will be reached without much effort.
Please, share your opinion!
WHEAT Graphic ReviewWhen the WHEAT 4-hour chart is examined; It is observed that the price movements continue within the downward sloping wedge. As long as the WHEAT price level of 531 is not broken down, it is evaluated that in price movements above the level of 543, it can cross the level of 565 and target the level of 589.
long on wheat*for my own notes and trades so I get better**
On the 22nd it dumped to 498.8 and returned rapidly to 509.9 and over a few days returned to the low and one solid green candle bounce and we are off again.
March 24 low 515
October 23 low 522
August 20 492
I feel the recent low is a wild over reaction soon to bounce back up to 515 ish
Wheat bullish possibilityBased on the seasonal trend, wheat appears bullish and is currently rejecting a key Fibonacci level. There’s divergence visible on the chart, and recent COT data indicates an increase in long positions over the past week.
#WHEAT chart pattern analysisAs can be seen, price managed to break above an ending diagonal and established a bullish structure in 1H and 4H timeframe.
Therefor, I would be looking to buy a bearish corrections unless the way of evidence show or prove to me otherwise.
Let me know if you would like me to publish an analysis in a lower timeframe on this chart to take advantage of this rally.
Next leg up - wheatHistorical price action analysis indicates, at least since september 2023 that there is a high likelihood od of a price rebound from current levels to at least 570. My first position is in, will analyse how price unfolds from current levels and eventually reinforce.
A drop below 520 cancels my reading and so will close any positions open.
Wheat buy on fib 0.71Wheat appears to have broken its downward trend on the 1-hour chart, forming higher highs (HH) and higher lows (HL). We are now anticipating a continuation of this upward trend, with a trade idea provided.
WHEAT SEASONALITY : strongly bullish
FUNDAMENTAL: INSTITUTIONAL BUYING
TECHNICAL ANALYSIS;
break of downtrend line making higher high low with bullish divergence
possible to continue the trend
Wheat looks good for a long ride to the upsideThe prices are at the lows and the structure shows a rejection at low prices and, it´s ready to launch the price to the upside and recover part of its year looses. Good luck!
Go long with Wheat, correction is overI believe correction for Wheat was over and it's time to take a long position for a huge ride to the upside. final Target 940
WHEAT: Rising probability of climate anomalies fully priced in? Wheat's bull run since mid March has been driven by weather concerns as a La Nina looks increasingly probable, even as fundamentals of ample supply remain bearish. Listening to commentators on the ground who don't see what the fuss is about with plentiful supply, it does occur whether they're thinking enough in terms of potential climate anomalies. This could be for political reasons, or just the trance of business as usual, and a trader can glean a possible gap to be bridged. In this case, to climate scientists reportedly dispairing because they understand what's coming up. The bigger picture trade with commodities like wheat may be expect the unexpected.
On a TA basis, the bull run has jumped on the new week's bell, but right into the weekly 200MA in white. If the price still does not match the concern for not just La Nina but global heating anomalies, the next stop may be the .618 fib in the purple box. That was also the case last year in the active season. Also to watch for is a weekly golden cross as the 50MA moves up over the 200MA.
On a fundamentals basis however, it's worth listening to analysts in the market who expect at some point a 'snap back' to match bearish supply levels on the ground. Chance then for a scalp down but also more caution needed if going long for the .618 on the weekly.
Not financial advice and you trade at your own risk.
