opportunity for re-entry
soy went from being one of the hottest commodities to losing all its steam. a double bottom, a classic reversal pattern, was formed last week. after descending for months, a retracement to the 50/61 fib level could mark the beginning of an uptrend.
some confluence: the DBA broke out of its ascending triangle chart pattern.
some confluence: the DBA broke out of its ascending triangle chart pattern.
Note
price did not pullback hard enough. re-drawing the fib could still assist with a suitable entry point.Trade closed: target reached
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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.