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FX20

Wheat forming Lower High

Short
CFDs on Wheat (OANDA:WHEATUSD)  
FX20  
OANDA:WHEATUSD   CFDs on Wheat
Fibonacci Support and Resistance Multiple Time Frame Analysis Wheat oanda candlestickspatterns
3
0
fibonacci supportandresistance mtfa wheat oanda candlestickspatterns
Key levels Identified
- Black line : Monthly Resistance
- Maroon line : Monthly Open

snapshot
Weekly Timeframe
- Third retest of Monthly Resistance level
- Last week candle close as an inside bar suggests consolidation, Expansion might be coming soon

Daily Timeframe
- Confirmed Bearish Pinbar with a close below its low
- Local 0.618 Fibonacci Retracement level

Idea: Looking for a retrace to ride to the downside. Unsure if this is truly a lower high as a lower high is only confirmed is there is a lower low.
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