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Dave's Trading Insights: Wheat Markets Recover On Thursday



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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.

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Risk Disclosure:

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 life style. Only risk capital should be used for trading and onlythose with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

Hypothetical Performance Disclosure:

Hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.