WHEAT – Signs of Weakness, Could a Short Be Next?PEPPERSTONE:WHEAT is within a clear resistance zone that has times before led to bearish reversals. In any case, this zone marked by previous price rejections, could once again attract selling pressure.
If bearish confirmation occurs—through rejection wicks, bearish engulfing candles, or a decrease in buying volume—we could see a decline toward the 544,00 level.
However, I’ll be watching for strong support reactions or signs of exhaustion before confirming the next move.
Just my take on support and resistance zones—not financial advice. Always confirm your setups and trade with solid risk management!
What’s your take on the potential trend of this chart? I’d love to hear your perspective in the comments.
Best of luck , TrendDiva
Supply_demand
AUDUSD SHORT >We have a Rally-Base-Drop(RBD) Weekly Supply Zone coverage for the RBD Daily Supply Zone
>We have a high quality Leg-out(Imbalance) from Weekly TF and an Explosive leg-out from Daily Supply
*Stochastic RSI confirmation (This is not a Timing tool, We always follow the Law of Supply and Demand):
-Stoch RSI is at Overvalued Zone, meaning price is looking for a Supply Zone to Drop the price. In AUDUSD's case, it already hit the Supply zone. Ride the trend.
>5,10,15 year Seasonality is Down-trending until 1st week of October.
**NOTE**
-Seasonality tool is just a set-up and an add-on guide.
-Supply and Demand is our timing tool.
Signal is good until 1st week of October or until Updated.
Trade Safe
Alikze → C98 |Cup patternIn the daily time frame, a cup pattern can be seen that if the supply zone is broken, the pullback can be available in support of the 0.29 zone of the specified targets. Due to the depth of this pattern, it has the ability to reach higher than the profit limit.
🟩Sup: 0.1953 - 0.29
⛳️Tp1: 0.46
⛳️ Tp2 :0.63
⛳️ Tp3 : 0.78
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