David Burroughes

Technical trader of wheat.
1. Market action discounts everything . 2. Price moves in trends.
3. History repeats itself

[David Burroughes @Davidburrs]

Great start to the week for UK Feed Wheat (LWX26). We’ve officially punched through that £185 resistance level and confirmed our Wave 3 move!
Elliott Wave calculations, this is usually the strongest part of the trend. With the price currently sitting at £186, our next big sights are set on £193 and that major £198.50 target. #Wheat #Bullish

[David Burroughes @Davidburrs]

UK Feed Wheat (LWX26) chart.
After a nice little run up to £185, the price took a breather, finding really solid support down at £178.
We might just be seeing the start of Wave 3 now—potentially the strongest leg of this cycle! Our eyes are on the first target around £193, and if this has legs, maybe a run at £198.50 (right next to that big £200 psychological level!).

[David Burroughes @Davidburrs]

US Wheat Monthly Chart Update. #wheat

[David Burroughes @Davidburrs]

🎯 Wheat Breakout Alert.

US Wheat (Mar '26) surging +15c to break the 550c ceiling. Fundamental Spark: US/Russia freeze risks. Technical Fuel: Massive short covering.

Bias shifting to LONG on pullbacks to 540c. The bears are trapped.

$ZW_F #Wheat #Trading #Futures

[David Burroughes @Davidburrs]

#Wheat confirms the breakdown! Prices continued to slide after failing to hold £175 support, closing at a new low of £170.70. While stochastic divergence suggests a bounce near £170, the dominant downward trend remains firmly in place. #Grains #TechnicalAnalysis

[David Burroughes @Davidburrs]

#Wheat closes at the edge! The May contract finished at £174.15, pinning the price right at the bottom of the trading range.Bears are making another aggressive move to break the £175 support zone. Will it hold this time, or will a breakdown accelerate the move to new lows? Watch the opening!👀 #Grains #TechnicalAnalysis

[David Burroughes @Davidburrs]

#Soybeans The close seals the deal! We have a clear Bearish Reversal confirmed by the third consecutive red close, breaking decisively back below the critical $11.35 pivot. The failed bullish breakout is complete.

[David Burroughes @Davidburrs]

$ZS1! Soybeans: Trading Range Confirmed! 🤼Following Monday's failed breakout and Tuesday's sharp reversal, the market is now locked in a tight battle around the $11.35 pivot level.The Takeaway: Both bulls (failed high) and bears (failed low) have lost control. Patience is key. We wait for a decisive break and close above $11.55 or below $11.20 to show the market's hand.#Soybeans #Futures #CBOT #TradingRange #TechnicalAnalysis

[David Burroughes @Davidburrs]

Soybeans: Bulls Take Control! 🚀The close confirms a powerful rejection of the reversal thesis. Bulls stepped in hard, pushing the price to 11.55 with a strong, near-engulfing green candle.The Key Takeaway: The 11.35 resistance level has definitively failed, becoming new support. The technical door is now open for a continuation toward the next major target at the 11.80 level.Current Focus: Renewed China export optimism and increasing weather risk in Brazil are fueling the fire.#Soybeans #Futures #CBOT #ZS #Trading #TechnicalAnalysis

[David Burroughes @Davidburrs]

#Wheat closes at £177.70. Following the failed £180 break, price is now consolidating in a range defined by £174 (October low) and £180.The £176 gap is holding as support for now. We must wait for the market to show its hand—patience is key until a clear breakout occurs. 🧐🌾 #TradingView

[David Burroughes @Davidburrs]

#Soybeans High probability of a failed breakout at major resistance. The China-fueled rally is rejected at the confluence of the 61.8% Fib and the historical $11.35 level. Waiting for a confirmed bearish reversal pattern.

[David Burroughes @Davidburrs]

@hamishpork My personal view would a range before we see the next move. So not up not down sidways

[David Burroughes @Davidburrs]

#UKWheat Update: The £180 breakout failed spectacularly, confirming Bears are back in control. Price now testing the crucial £176.65 area (50-DMA/Gap Support).⚠️ Crucial Test: If £175 breaks, look for a sharp move down to re-test the recent lows. Structure is key here. #FuturesTrading #Commodities

[David Burroughes @Davidburrs]

@thegraingeek No problem I was using the next level of £190 as a whole number level and if we had a pull back i would then used a elliot wave count.

[David Burroughes @Davidburrs]

#Wheat personal plan update: The May contract closed at £179.85, dipping back below the key £180 level. This pullback is part of the plan! I wanted more momentum after the breakout, but now we're watching for a Daily Reversal Candle to confirm £180 has flipped to support and this would give a possible entry. Failure on this retest hands control back to the bears. #TradingJournal

[David Burroughes @Davidburrs]

#Wheat Update: Closed at £178.65, the second consecutive close back below the key £180 level. This lack of follow-through confirms the retest has failed, and my plan for a Daily reversal entry is closed. We are now dealing with a False Breakout, which hands control back to the bears. Time to reset and observe. 📈 #TradingJournal #RiskManagement

[David Burroughes @Davidburrs]

May #Wheat is testing the patience of the bulls! The contract closed at £179.85, challenging the £180 breakout.A pullback to re-test the broken resistance (now support) is common. I'm waiting for a reversal signal to confirm the move. If we fail to hold £180 here, the breakout is likely a 'false one.' #TradeSmart #TechnicalAnalysis

[David Burroughes @Davidburrs]

£180 BREAKOUT CONFIRMED! May #Wheat closed at £180.50, confirming the activation of the trading plan first outlined on 28 Oct. With the price holding the gap & MA 50, the path to £190 is now open. Need to see sustained momentum next. #Wheat

[David Burroughes @Davidburrs]

#Wheat May contract is building a base! Following the sharp rally, price is consolidating cleanly above the 50-day MA & the previous price gap. The final hurdle remains the psychological £180 resistance. Awaiting the breakout signal. 🌾📈

[David Burroughes @Davidburrs]

@Jes_Squirrell Still could be that is why i am waiting to see if it breaks the £180 level

[David Burroughes @Davidburrs]

#Wheat May contract shows strength, closing at £178.05 after tagging a high of £179.85. This was the first serious test of the psychological £180 level. Crucially, the close held above both the 50-day MA and the £176 support. Bullish pressure building.