We are long the PUT options since 535 - we wanted to limit our risk. Now it is safe to short the futures, as the market is very weak technically and fundamentally. Sell on a CLOSE below 492.25, stop loss on a CLOSE above 507. 435 is the price target.
I have been travelling around the wheat region in Russia last week - observing the crops, talking to farmers. Planted area this year is very large and most of the crops survived and are looking healthy. Weather conditions are excellent. Prices as low as 416 and 381 could be reached if we see our preliminary target reached before August 31.
*Please remember that futures trading involves a substantial risk of loss and is not suitable for all investors.
Trade ativo
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Sell signal given.
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Sell signal will cancel on a close above 507 as mentioned and the loss should be stopped.
Trade ativo
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The bearish cycle continues but for now we stand aside and the move could continue till 5.25. On a close below 5.07 we go short again. We are also still long the Put bought at 535.
Trade ativo
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Not much time is left for the move to proceed. Consecutive closes above 507 this week will cancel my idea and prove me wrong for this time, unfortunately. We all make mistakes and can not be right all the time. Thanks to those who support my ideas and I will continue to make improvements in the trading recommendations I give. Stay tuned for updates.
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Wheat opened with a gap down today, I take a small short.
Trade fechado: stop atingido
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Failed trade and idea. -rep to me...
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Very faulty recommendation, however it is nice to know we stopped our loss.
funny i just read this. i am short march wheat as of today.
CSInvestment
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@kevagonia, I don't know what to tell you, I am still quite shocked and for the last few weeks I was going all the way through my whole method of calculation. Something is dead wrong with it and this was a very faulty recommendation at the time.
kevagonia
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@CSInvestment, that's OK, Che. I went short December 2020 wheat 9/3 at 552.5
BitFinancial
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Guevara, the man you are idolizing in your profile picture believed that only the government could participate in the market. You should follow your idol's example and not participate like the civilian you are. In his time, you would be facing firing squad in Cuba for even hinting to do what you are doing now. Hypocrite.
CSInvestment
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@BitFinancial, It is just a profile picture, not "idolizing" anyone.