The Bottom Many Have Been Looking For: Wheat

If I were asked to pick just one asset to be long in 2017, I'd consider wheat as my top choice.

I am still long from 422. As shown below, I got stopped out but managed to re-enter at that exact price.

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Trade active

I am now long. Enough signals on the short time frame for me. Risk could be gauged much better from here.

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The key dashed line is broken..

Trade closed: target reached

First target reached NOT CLOSING POSITION

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As it turns out, wheat is, thus far, the BEST PERFORMING major asset in 2017 underperforming only BITCOIN and all major cryptocurrencies (top 5). Oats are the only commodity that could even remotely compete.

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Keep in mind I am not saying it is the best performer. I am sure there are PLENTY of stocks that outperformed wheat. I am comparing wheat to major asset classes like the S&P 500 and other commodities. Tesla may not be a fair comparison now that I look at it, but nevertheless, something interesting to be aware of.

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Wheat has been a wildly challenging market for the long term position trader. We have hit the .618 from its recent run, which I think is important to note. I am waiting to see if it holds or not to get back in.

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Who needs bitcoin when you have wheat?? JK..
Target 3 approaching. It's been a long and tedious trade.. Expect higher prices

Lanmar

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Lanmar