jpartner - 5/20/2015 11:51 A couple things...structural levels can only be with the trend..in their essence, they define the trend.

jpartner - 5/20/2015 11:51 So a high pivot that is eclipsed in the next swing, can never be a structural level, but it is price structure.

jpartner - 5/20/2015 11:51 The reason why a pivot is considered structural is because big players created it..way bigger than us. So in order for the trend to continue, they will need to either defend their position by paying the same price or pay more (in an uptrend). So you are leaning on the backs of larger players. This is why we want to hide our stops behind them. If the trend is to continue, they will be there and your stop is safe. NoDak is dead on with the swing structure. The swing formation we are dealing with has only happened three times since 1969. So the individual rallies that put us to all time highs are just wiggles in comparison. Like tara mentioned many moons ago, bottoms are a process and this one will take years. How can that be right?...2008, 09, 10, 11 etc all rallied quickly. If the monthly corn chart was a minute chart, there would be no difference. And if you have ever watched a pivot formed intraday, and are monitoring structural levels, you will notice that sellers will step down, sellers step down, sellers fail to step down but rolls back into the next bigger swing( the reaction to the stepping down earlier) then confirm, sellers again fail to step down, price attempts to make new lows but cant' and goes on to make a new swing high, confirming the buyers and thus the next bull market. A very similar sequence will occur in the long term grain markets but unlike the intraday charts that made the pivot in days, this will take years. We unfortunately haven't even gotten to the first reaction yet. So..#5 is correct. #6 is correct except #1 is not the low, it is earlier and maybe not on the chart. #9 is correct. #11 cannot be structure until price makes new lows. Great work Pilot and thanks ND for pitching in! Take Care