Tuesday, October 27, 2020

Dec Wheat Looks Weak



The rightmost daily candle (for 10/28/2020) just opened about 15 minutes ago at 20:00 ET on 10/27/2020. This gives us a continuation downward after a close beneath the 8ema. See the comments on the chart for the setup, target, stop, and Risk:Reward.

The entry was a conditional order that if price hits 612 1/2 then sell a futures contract. Except we experienced a little slippage and the actual entry was 610 5/8.

Using the YW contract instead of the ZW contract to control risk since we didn't get a bearish candle pattern at the top of the recent swing high.

 

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