XW1! trade ideas
Bounce From Support and Breakout from Downward Channel495-500 level proves to be a strong buy level and thus support, which it has bounced from in the past. (Outlined by green shaded line).
When Wheat is trending in one direction it typically remains within an upward or downward channel as you can see historically, as well as outlined by the shaded blue channel. As you can see, it has recently broken out of this channel.
These factors could mean a good trend reversal (long) setup, also with a good risk/reward if it goes to test the 580 resistance levels as it previously had.
What are your thoughts?
WHEAT FUTURES (JUL 2020)Once again, a purchase deal in wheat at a price of 528.6 target on contact with the lower rand. Wait till we break the rand buy back the target this time, 581. Let's not forget that we're opening the candle of the month and the week as well.
ZW : Hight probability to go Long, but ...
We are preparing to have an uptrend in the coming days, but we will wait for the breakout of the range forming since May. So if we break the 528, the next target is 588.
[ZW] - Key Price Level To WatchKey Price Level To Watch on ZW futures.
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ZWBUY . and if ever it breack the resistance of 5210 with power there is a probability that market go to 5250
Inverted head and shouldersAs you see we have invertet head and shoulders, with the begining of right arm. Also we have long position on MACD on daily chart.
Wheat SND Bearish ForecastBearish interests 2 hourly (anomaly 26 May '20), -a Wolfe Wave Zone Analysis.
Please check Wolfe Wave Theory for SND mapping so as to follow.
* You may need an ADX /TRIX
ZW1! Futures Chartthere is a probablity that the market will be bearish on short term after his bullish movement
