Wheat appears to be putting in a rounded bottom structure at the 1980's prior all time high.
Despite having a large H&S pattern painted, oscillators and the apparent accumulation structure suggest this pattern will fail or woefully underperform.
If this H&S fails the consequences will be epic.
I would treat this trade as a long term position trade aimed at capturing some value from the upcoming Trump tariffs.
Thanks! : )
Despite having a large H&S pattern painted, oscillators and the apparent accumulation structure suggest this pattern will fail or woefully underperform.
If this H&S fails the consequences will be epic.
I would treat this trade as a long term position trade aimed at capturing some value from the upcoming Trump tariffs.
Thanks! : )
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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.