Search

Dave's Trading Insights: Wheat Markets Recover On Thursday



GET EDGE ALERTS FOR $99

While America continues to recover from the Coronavirus and the impact it has had on the economy, we want to do our part to help in the recovery effort. For a limited time, we are reducing the price on the Edge Alerts service to $99 per month.  That is a savings of $150 off the regular price.  Go here to take advantage of this fantastic offer.


Issue# 136

Wheat Markets Recover On Thursday

By Alan Brugler | Aug 13, 2020 Read the full article here


My short term indicators are bearish for September Wheat (ZWU20). Expect lower prices over the next 3 to 8 days. There is a bullish engulfing candlestick pattern on 8/13/2020. This pattern will likely be a failure this time. Here is my suggestion for trading this signal:

  • Place a sell stop order on 8/14/2020 to enter short at 489.00. This is the three-day average daily low price.

  • If filled, place a trailing buy stop loss order at the three-day average high price. The buy stop for 8/14/2020 is at 499.25. You will, of course, need to ratchet the stop loss price each day.

If you are not filled then my indicators were wrong and you never entered short and there was no loss.



Chart is courtesy of barchart.com



Many profits and much success!







Dave's Trading Insights is brought to you by ExitPoints. Dave Register is the Chief Architect and Developer for all of ExitPoint's automated trading systems.  If you would like to learn more, please visit us online or send us an email at info@exitpoints.com.


Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or lifestyle. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

25 views0 comments