Wheat Futures, July 2013 - Trade Set up

We see a Wolfe Wave pattern being formed on the H1 charts of Wheat Futures for July delivery. In the supporting chart below, the solid lines are the trend lines connecting waves 1, 2, 3, 4 and currently in the process of a Wave 5 completion.

Wheat Futures, July 2013

While this doesn't represent the actual WW trade, a good trade set up would be to short Wheat Futures, WN3 as the potential Wave 5 is projected at 677, rounding this off to 685 level.

USDCHF Daily Chart, In Trade Analysis

This is a follow up to my trade set up on the USDCHF here. Overnight there was a decent movement since my entry at 0.93330 and price is currently at 0.93588. I moved my stops to 0.93530, locking in a total of 200 Pips.

Price is currently looking at a retracement, and can be clearly seen on the H1 chart. While I will wait for my stop to be taken out, I will be re-entering this trade as soon as the Schaff Trend Cycle switches to a bullish bias.

 

There could be a possible retracement to the 76.4% Fib and then price might get back to being bullish. Either ways, i'm happy with a 200 Pip profit and eager to ride this wave again. I'll be following up on this.

Possible entry could be at either 73.2 or if price drops a bit more, maybe a few pips below 73.2.

EURCHF, H4 Wolfe Wave Set up

It looks like the CHF pairs are doing quite good in terms of Wolfe Wave patterns. Here is a 4-Hour chart on the EURCHF, which shows a nice uptrending move. So we go for a BUY order.

Entry: I'm sure you have missed the 23.6% Fib level entry @ 1.21968. But fret not, wait for the 38.2% entry @ 1.22678
TP: 1.23251
SL: Either 1.22436 or to be more safe (but more wide), 1.21968