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SE ND | Hi Pilot,
IMO, you got a good fork there. I have also drawn that one, and I believe that it will hagopian. My reasoning is that if we are going to make new lows and a new larger swing C pivot, the guys in charge will want to slowly work off their postion. Looking at how wheat, crude and others were grinding lower, I'd think that we could expect something similar in corn also. This takes time, and that is why I'm thinking the LME that you're using will carry through to the C. The fork that you've drawn I did substitute for a mod schiff fork. To me, I could see a balance in there someplace, but until I drew the MS it didn't make sense. From January till July price congested around the MS ML.
The weekly controlling fork B/C line might be able to give us some clues as to when C might occur. The touches that I believe are of balance, would put the low in Nov sometime.
I like you're idea of the hagopian projection, and when looking at how things line up structurally your target and higher are very doable, IMO.
Thanks for sharing. | |
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