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.
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The triangle was drawn a bit too narrow. Current version:
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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.
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Okay, seems like we are back in business. ;)
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Continuation of the bullish trend is now very likely.
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Price action looks a bit weak ATM. So it could be wise to extend the triangle like this:
Order cancelled:
Setup no more valid- triangle broken to the wrong side.
