Hi Everyone,
Today, an interesting setup is forming on the wheat market.
On the daily timeframe, price is making a third pullback on the bearish trendline, following two previous retests clearly visible on the chart.
Historically, a third pullback on this type of structure significantly increases the probability of a bearish reversal.
📉 Primary scenario: bearish movement expected in the coming days
🎯 Target price: 500
Today, an interesting setup is forming on the wheat market.
On the daily timeframe, price is making a third pullback on the bearish trendline, following two previous retests clearly visible on the chart.
Historically, a third pullback on this type of structure significantly increases the probability of a bearish reversal.
📉 Primary scenario: bearish movement expected in the coming days
🎯 Target price: 500
Trade active
Almost Target reached
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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.
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.