Having a look at the 3 day ZW_K7 chart the overall down trend could be clearly recognized as well as intraday down trends within each day chart.
This makes the wheat as well as other grains - soybeans and corn very appealing for day trading. As in old-school days of trading it establishes during the day session very clear and easily recognizable support and resistance lines and trading break-outs is quite rewarding.
The strategy is simple. Once the market opens, you need to wait the first hour at the side lines as to see where the market will point. During the first hour, you need to draw the support and resistance lines and wait for the price to break either way, having in mind that if it breaks with the bigger trend it is stronger. As it shown on the chart - the bigger trend is downwards. Once the price breaks the resistance line we go short. As soon as the downward move gets exhausted the position is closed. New support and resistance lines are drawn and so on.