tink - 8/14/2024 10:13
fatan sassy - 8/14/2024 09:39
tink - 8/14/2024 08:23
The last run in corn started here, as shown with the daily and weekly charts.
Reversals are useful when they work. Change of trend often occurs without them.
So true. They are useful WHEN they work. Which begs the question….are they useful at all? Or just another “rule” that people wrongly assume has validity?
They can be useful, when considered in the framework of a chart and not as an isolated event.
In the first charts, we see both a daily and weekly February reversal.
The February low was take out Monday, with another day reversal.
Note the trading range on Monday and how it and the reversal honored the previous February low on the third chart.
With respect to those who believe otherwise, Monday's reversal was not negated and a weekly reversal still possible.
Corn & bean charts. Corn fails key reversal. Beans enter trade war levels
