Since the last blog, wheat reach the 1.270 fib value and then bounced down to the 1.130 Fib value. If you strategy was to play between Fib values then you have realized profits already and setting up another trade around the 1.130 Fib value.
The indicators on the chart are telling us that we are in consolidation mode. We are still in a bullish sentiment. That has not changed. Therefore, if you are still in the trade, you are negative right now but be patient. Looking at the wheat futures right now, they are back to 594.00.
Personally, I am still in the trade. I did not exit at the 1.270 fib value because I am trading this as a long term position
For EDUCATIONAL USE. Commodity Futures Trading Commission, Forex, Futures, Equity and options trading has large potential rewards, but also large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provide d on the Blog is for educational purpose .
