Wheat (daily): Short

For SL/TP pls. see chart.

This is not an investment advise this is just my personal opinion.

Trade active

Trade closed manually

We did a lot of very profitable trades this week. Unfortunately Wheat is not among them. It seems 5.20 became a new support. Even the DXY strenght did not trigger a further decline. What do I do: I am going to close the trade manually and will review the trade opportunity regularly. For me it is right now a 50:50 chance to move up or down. Profit: more or less BE minus swap/spread.

Trade active

I reenter the trade... check out as well soybeans, copper and corn. Take care

Note

TP1 hit. Move SL to BE

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TP2 hit. Move SL to TP 1.

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Allmost there

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It seems that the remaing 15% will be closed at BE...

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I am happy that I have reentered the trade, we made some really good profits on this one. Next week I expect some higher volatility which will provide some intraday opportunities. Since I have simply not the time to post intraday opportunities I would only update the trade if we hit BE or TP3. Technical: Short (supported by DXY) but supply side could become an issue... Take care and ride safe guys.

Trade closed manually

Closing the trade… We made a very good profit on this one and I think it is very likely that we are moving to BE, so I do not want to waste more pips.

Note

A really good lesson for me... Do not close the trade when you have defined a SL (otherwise I do not have to do the analyses… Shame on me). Congrats to all of you who are still short… :)

Chimbarosa

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Chimbarosa