Wheat after our recent profitable prediction (pls refer to previous published idea) is now looking for a direction in my opinion.
It failed yesterday to break the $5.42-5.43 level so now we have a stong 4h bearish candlestick.
Still I'm unsure what the outcome will be. The MACD 4h took a turn and is now approaching the signal line with momentum to go bearish.
However I'm monitoring price at the 4h time frame waiting to see what will happen when/if the price reaches the support lever of ~$5.34.
That's why I named it DECISION LEVEL. Depending where the price will go and how it will go to wherever it goes, I might be able to base my trades.
So let's wait and see what happens.
I just love the markets! :-)
Note: I'm no trading expert nor have the ambition to become one! The above is just an idea that I share with the intention of attacting comments and perhaps become better at trading commodities.
It failed yesterday to break the $5.42-5.43 level so now we have a stong 4h bearish candlestick.
Still I'm unsure what the outcome will be. The MACD 4h took a turn and is now approaching the signal line with momentum to go bearish.
However I'm monitoring price at the 4h time frame waiting to see what will happen when/if the price reaches the support lever of ~$5.34.
That's why I named it DECISION LEVEL. Depending where the price will go and how it will go to wherever it goes, I might be able to base my trades.
So let's wait and see what happens.
I just love the markets! :-)
Note: I'm no trading expert nor have the ambition to become one! The above is just an idea that I share with the intention of attacting comments and perhaps become better at trading commodities.
