I suspect a trend-change coming soon and getting ready to long.
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29th I believe will be the day to back up the truck on this one.
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Correction: 31st.
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Its crushing sentiment well... That bodes well for the upcoming long position. I will calculate how long I will keep the position so I can buy call options that are fit for the fight.
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I will most likely enter into 3 month option duration.
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First position entered.
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Entered second position earlier today when it was up about 0.5 %.
Now we are at the 31st where I expected the big trend-change to occur. And boom. Here we go!
Now we are at the 31st where I expected the big trend-change to occur. And boom. Here we go!
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Now at lower resistance zone (red lower line). If it can get above that line and a weekly close above, its good. If it can get above both, it would be perfect (but perhaps a bit too much to ask this early). Let's see!
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We're in the middle of breakoutzone. Now we need to take out the second red line, and we're home free.
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Arrived at upper red line. Here it may be wise to book some profits and rather re-add after closing above. Better safe than sorry :)
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Re-added at lower line.
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Expect a STRONG Friday finish in wheat! Good luck!
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3 %? Indeed.
