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Theodore, Saskatchewan | Hi Cole,
Sorry that is my fault sometimes I post for discussions with other guys drawing their own charts and do not include enough explanation. The lines you see drawn are Andrew's median lines and they follow a set of rules that Dr Andrews developed. they are on an angle but provide areas in which we will see reversals, gaps or consolidation. After reversing from a line our zooming through, the next line would be our target.
For example the first soybean chart is a montly showing we are still in a multi year uptrend. It has dropped to the red line where i am watching for a reversal as shown by the arrows.
The daily bean chart is in a downtrend but reached a line of support and has turned up, target is 1450 as shown by the arrow.
The 240 min chart also shows the bottom line reversal and first target here would be 1420 to 1430 area.
The corn chart I apologize for all the lines. It is still holding support and broke the small downtrend, green lines, with todays close above the black line our next target would be 775. This I am cautious on as corn tends to fail and not reach the target. But if you need a target for corn in the near future that would be it
Edited by maydel 11/20/2012 17:30
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