Option Millionaires

[FAT STAX]

Wheat MTF Breakdown:

Legend:

Blue bars note the activity of institutions & algos.
Yellow bars with "R" below note heavy pockets of retail sell chasing activity, and vice versa for yellow bars with "R" above.
Horizontal lines of varying thickness: Notable pivots, the thicker the more important.
Green Background: Demand Zone/Support area
Red Background: Supply Zone/Resistance area
Thin red lines: notable pro short trailing stop levels
Thin green lines: notable pro long trailing stop levels
Buy "warning" - print when a pro short trailing stop level breaks to the upside in a demand zone - shown by timestamped dotted vertical green lines
Sell "warning" - print when a pro long trailing stop level breaks to the downside in supply zone - shown by timestamped dotted vertical red lines

Monthly: The textbook definition of an inverse relationship with interest rates: wheat has been cut by 60% since March 2022.



The weekly notes the downside break of multi-year support from October 2020 @ about $655.



The red staircase on the daily notes the trailing stop levels of pros who scaled in short.



The blue pro bars 4/27 right after the flush price pattern (salmon dot) were aggressive long signals on the hourly. Additionally, the 4/28 & 4/30 blue pro bars that made a higher low, were less aggressive long signals. A 639 (pro short trailing stop level) break to the upside & hold will print a buy warning and will be strong confirmation of the aforementioned aggressive long signal(s).