Looking for a lower rejection for a test of highs.
4h potential head and shoulders grain shorts are HIGH so short covering is NIGH. wheat mon appetite.
This pattern is just as reliable at a bottom as at a top. The general rule of lower activity at bottoms is reflected the the Head and Shoulders Bottom . For this same reason, this bottom pattern is often longer and less broad, and the eventual breakout volume is often not as intense as on a Head and Shoulders Top. Overall, more demands are made on our patience....
Broke triangle furiously. Clipped fib obediently. Needs to get above level to stay bullish
Applying a channel on a log scale has helped me time the market's movements in general. Timing is everything. It clearly delineates OB/OS levels for me.
Renko help to spot key levels quickly. Example here on LTC/BTC. Afterwards I adjust them slightly on the candle chart to account for the finer movements and wicks.
The daily MA 200 and EMA 200 are widely used indications of trend as well as support/resistance levels. Critical juncture. A decent little trend should result either way, and provide plenty of lower TF setups.