WHEATUSD is just about to relax from high levels which were reached in the cold season. The retracement of the down move of the past few days has been just below the support turned resistance at around 5.69-5.70. When price retraces to this level and the resistance proves to be valid this is an entry point to follow the higher timeframe downtrend at least until 5.40.
The insights are taken from my own data driven approach paired with some chart analysis
The insights are taken from my own data driven approach paired with some chart analysis
Trade closed: target reached
The Move completed last week
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.