A simple idea. Wheat is showing a head and shoulders reversal pattern. On the daily, we did break out but that has not been sustained.
We can see fake out patterns on both the daily chart and the 4 hour chart.
Here on the 4 hour, we are awaiting a break of the neckline. This would also confirm our first lower high swing (the right shoulder of the pattern).
First target would be the flip/demand zone in blue.
For now, we await the break.
We can see fake out patterns on both the daily chart and the 4 hour chart.
Here on the 4 hour, we are awaiting a break of the neckline. This would also confirm our first lower high swing (the right shoulder of the pattern).
First target would be the flip/demand zone in blue.
For now, we await the break.