This thread is all about (or mostly about) classical chart formations and the modern day variations. Mostly on the Futures Markets. There are a limited number of Futures markets (at least compared to stocks) so that good chart patterns on daily and higher (and even hourly) charts tend not to occur all that regularly. Hopefully we can find a couple of them a week though, these days, there is so much correlation that they may all occur at the same time. First up - Wheat. Nice breakout last week and seem to be continuation in the overnight session. Hopefully we get a nice bull flag on the hourly charts this week. Fair warning: Breakouts, in my experience, tend to have a failure rate of around 70% (at least when shooting for the full measured move). It's the 30% that work that really make it all worthwhile. I don't think a retrace to 672 invalidates the breakout even though it would be a severe flush because there is a diagonal trendline breakout in play as well. So, a retrace somewhere down to that trendline would be scary but not completely invalidate the breakout and any measured move target.