Wheat Watching

I've been watching Wheat and Soy for a couple of weeks here as I've never traded them. I feel like I have a decent enough understanding of how they move to attempt and entry today.

Got a bullish signal with price action context for a potential long trade, looking for retracement entry.

Transaction en cours

Entry triggered 8:38am

Trade fermée manuellement

Covered 25% of the position with that rejection close.

Looking to reduce further if this bearish movement is sustained.

Trade fermée manuellement

Another 25% covered on the 9:30am candle close

We did see a slight push up mid way through the candle, but it closed bearish and there's not a great support level below here so playing this one tight as it's the first trade.

Transaction en cours

Great bullish move that allowed me to add back the 50% previously covered so I'm back to a full position on this. Being pretty aggressive here but this turn around really builds on the original trade idea.

Trade fermée: ordre d’arrêt atteint

Stopped out on the bearish action.

Interesting trade, unfortunately my broker doesn't have their Wheat chart on TV so it was difficult to correlate the price action between the two. Additionally to that the spread was wider than Forex which was apparent even on the 30min TF.

I'll keep an eye on commodities again, but currently debating the effectiveness of adding them to the watch list.

RuckSack

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RuckSack