David Burroughes @Davidburrs

Technical trader of wheat. 1. Market action discounts everything . 2. Price moves in trends. 3. History repeats itself youtube.com/channel/UChnpy… Joined July 2009

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David Burroughes @Davidburrs

2 weeks ago

#Wheat is consolidating around the key £166.50 breakout point. While this may signal a pause, there are no clear signs of a trend reversal yet. The long-term downtrend remains in place.

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David Burroughes @Davidburrs

3 weeks ago

#Wheat closes at £165.90, confirming a new lower low by breaking below the key £166.50 support. The long-term downtrend remains firmly in place.

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#Wheat closes at £166.95, once again testing the August lows. The failure to hold above £170 now puts the recent shift in structure at risk. A decisive break below these lows would confirm a continuation of the long-term downtrend.

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David Burroughes @Davidburrs

4 weeks ago

#Wheat's rally stalls just shy of £170, closing at £169.50. While the downward trend remains intact, the changing market structure is a sign to watch. My existing roadmap is still valid.

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David Burroughes @Davidburrs

4 weeks ago

#Wheat closed at £169.40, forming a higher low at £168. This minor shift in structure allows for a new Elliott Wave count. My targets are £172 (Wave 3) and £178 (Wave 5). While the strong downtrend remains, I'm keeping this roadmap in mind.

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David Burroughes @Davidburrs

a month ago

#wheat's downward trend is reaffirmed as it closes at £168.50. The market's inability to even test the £170 level signals continued weakness. #wheat

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David Burroughes @Davidburrs

a month ago

#Wheat finds support at £167, closing at £169.30 and snapping an 11-day losing streak. The market was deeply oversold. While this bounce is a positive signal, it's too early to call a trend reversal. We need to see if the market can consolidate around the £170 level.

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David Burroughes @Davidburrs

a month ago

#Wheat closes at £166.55 continuing on its downwards trend.

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David Burroughes @Davidburrs

a month ago

#Wheat closed at £167, marking 11 consecutive days of losses. The market is now showing parabolic price action, suggesting a strong downward trend. Could a bounce be coming, or is this the new normal?

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David Burroughes @Davidburrs

a month ago

#Wheat closes at £169 below the and breaking through the £170 level.

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David Burroughes @Davidburrs

a month ago

#Wheat The monthly chart is indicating the next major support level is £160.

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David Burroughes @Davidburrs

a month ago

#Wheat breaks through the £170 level and closes at £169.30.

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David Burroughes @Davidburrs

a month ago

#Wheat closes at £171.45 and still falling and looking to test £170.

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David Burroughes @Davidburrs

2 months ago

#Wheat Closing £173.10

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David Burroughes @Davidburrs

2 months ago

#Wheat Closes at £172.60 breaking the holding pattern just below the recent trading range and looks to be on the way to test the £170 level.

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David Burroughes @Davidburrs

2 months ago

#Wheat Still holding below range at £174.60.

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David Burroughes @Davidburrs

2 months ago

#Wheat closes at £174.55 holding below recent trading range.

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David Burroughes @Davidburrs

2 months ago

#Wheat Technicaly I have no trading plan but breaking the currnet range is very bearish. Fundamentaly there are reports of amply supply of wheat in the world and the funds seem happy to be short at present.