Wheat futures have had an interesting short-term price action character change, with a Higher-High printing on the H1. The price action is happening on a weekly level that has formed over the last year. Seasonality also favours wheat higher in the short term, although that is not the basis of this trade idea.
In anticipation of a Higher-Low forming on the H1 in this area around local support and the 61.8 fib level, there is a favourable RR trade in this area. I have decided to sell a put spread just below the market. I'm treating a break of the weekly level as a signal to manage the risk on the spread, with a first target at the daily swing high from two weeks ago. I will manage any trailing risk via the H4.
In anticipation of a Higher-Low forming on the H1 in this area around local support and the 61.8 fib level, there is a favourable RR trade in this area. I have decided to sell a put spread just below the market. I'm treating a break of the weekly level as a signal to manage the risk on the spread, with a first target at the daily swing high from two weeks ago. I will manage any trailing risk via the H4.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.