Wheat - Buy opportunityYou can see big bearish movement on top of 5 Elliot Wave, i except bearish ABC movement where i can wait for buy opportunity.
WHTUSD trade ideas
WheatThis is My idea For Wheat,
Traders, if you liked this idea or have your opinion on it, write in the comments. I will be glad!!!
GOOD LUCK
Wheat & Sudden FloodsAs we all know we had several flash floods this year and most probably we will have them more in coming years. Those flash floods are affecting the agricultural fields badly. Let me clarify; Once the flash flood hits a region top soil is removed and it goes to seas. So next season on that land becomes less productive. These kind of effects will make the prices of Wheat and other agricultural commodities higher. And each passing day we experience that many farmers leave their farms as they can't compete with big companies.
WHEATWheat has been moving up to complete wave 5 if A HIGHER DEGREE which is almost coming to a close. If price passes 831, we shall see levels of931 as POI
WHEAT - Purple War Zone!WHEAT is overall bullish trading inside our blue and brown rising broadening wedges so we will be looking for Trend-Following Buy setups as it approaches the lower trendlines.
So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the brown trendline and blue trendline.
As per my trading style:
I will be waiting for it to approach the highlighted purple circle area to look for buy setups (like a double bottom, trendline break, and so on...)
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
What Do You Think About Scenarios?Theese are my scenarios abou Wheat. What are you think about my thoughts?
Not Financial advice.
Important potentiel on wheat for next weekI expect wheat to rise from 693.11 $ to 763.42 $ . And please consider a stop about the 654 $ level
WHEATUSD - Descending triangle Descending triangle on WHEATUSD, short only if there is a confirmed breakout of the support of the pattern.
Wheat short Holding a short on wheat. Looking for a bearish flag formation after that impulsive leg and then possibly entering a second position
WHEAT Weekly Timeframe UpdateWheat Futures has hit new highs over the Q4 period and we enjoyed the Bullrun as expected, but now it's time to prepare a major correction.
Regarding the chart, I have analyzed that Wave 3 more or less has completed its cycle. Please be extra cautious and allow room for price to reach the $700 area before deciding on making short positions. The area in which the correction should take place is between the $700 & $610 area. We must apply Ralph Nelson Elliot's alternation for this correction. Please pay attention to Wave 2 on the intermediate cycle as you can see it is a fairly simple zig-zag correction. Therefore, we have a high chance and probability that Wave 4 will be complex & we can anticipate a Flat or Triangle correction.
As expected wheat arrive to 633 dollarsWheat get the first target after downtrendline break as expected
