Futures/Commodity/Ichimoku: Wheat Future: 6-20-07: Trade Update

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
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About the Author Manesh Patel