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➡Ready for the following corn level? 💥

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I'm still invested with the rest of my original position long in corn, but I'm ready to scale out completely. But just now, I've noticed that the highs and lows from yesterday and today COULD form a beautiful symmetric triangle. So in this uptrend, this could be a chart pattern that indicates a continuation of the existing trend in corn.
Note
The triangle was drawn a bit too narrow. Current version:
snapshot
Note
If the next candle opens and closes also outside the triangle, the bullish case is broken and I'm expecting rather an correction in the corn price.
Note
snapshot
Note
Okay, seems like we are back in business. ;)

snapshot
Note
Continuation of the bullish trend is now very likely.

snapshot
Note
Price action looks a bit weak ATM. So it could be wise to extend the triangle like this:

snapshot
Ordre annulé
Setup no more valid- triangle broken to the wrong side.
p4917
agriculturalAgricultural CommoditiesbullishchartbullishchartpatternChart PatternscommoditysupercyclecommoditytradinggrainsPennanttradewithfoodTriangle

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agriculturalAgricultural CommoditiesbullishchartbullishchartpatternChart PatternscommoditysupercyclecommoditytradinggrainsPennanttradewithfoodTriangle
p4917

Publications connexes

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.