This is Corn Futures Weekly chart.
This chart pattern usually predicts a very strong upward move!
It's an up-sloping pennant pattern while the Stoch RSI shows a down cycle. This suggests that price are experiencing an uptrend in what is supposedly a typical retracement.
Price has already bounced off the 20MA on the Daily chart , which means the better entry timing is missed. You can look to enter on a 4H time frame or just accept a lower risk to reward. I think it's fine to accept a lower risk to reward since this is based off a Weekly chart.
Be sure to watch the liquidty & contract period.
If you have any symbols that you would like me to analyze, feel free to drop me a comment!
Thanks!
This chart pattern usually predicts a very strong upward move!
It's an up-sloping pennant pattern while the Stoch RSI shows a down cycle. This suggests that price are experiencing an uptrend in what is supposedly a typical retracement.
Price has already bounced off the 20MA on the Daily chart , which means the better entry timing is missed. You can look to enter on a 4H time frame or just accept a lower risk to reward. I think it's fine to accept a lower risk to reward since this is based off a Weekly chart.
Be sure to watch the liquidty & contract period.
If you have any symbols that you would like me to analyze, feel free to drop me a comment!
Thanks!
註釋
(Disclaimer: not giving any trading & investment advise. Just sharing views)註釋
If it doesn't break yesterday's high of 554 2/8 and stay above the low of today, then it might look to be a failed setup.交易結束：達到停損點
Failed setup註釋
Funny enough. The setup was actually still intact, just took longer than expected
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。