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South Central Iowa | Thanks ruralHusker!
I will be keeping it. Until yesterday, I had not thought of looking at it, but I had to make that uptrend to tell Sat to cool it on his massive and constant bearishness. Well, it turns out that those Fibonacci's and that speed line are what caught our fall in 2015. The Fibonacci existed since 2012 and that speed line was repositioned in July 2014. They both caught that fall, and you see the 2/3 speed line is our summer high from this year. Also, they might help explain a missing piece of Jpartner's chart down below where he states "notice that price has not reached the ML and once again, we are flirting with the upper parallel." Andrew's would say that it should reach the median line, but it didn't and made three stabs at it, maybe four. Why didn't it? Other things were catching it and they existed before. Jpartner loves pitchforks alone, thinks everything else is meaningless, and definitely wouldn't approve of that thought.... but I can! Haha! Besides, it doesn't invalidate the fork, which is a very useful tool; especially when I leaned not use it as a channel tool. The other things can help explain action that the fork alone cannot. My thoughts anyhow, I like all three, plus some other things too!
Here are a couple more for interest. The first is the Fibonacci Channel alone. It helps put into context why funds find this area cheap, especially if you are into cyclical theories and we are starting a higher cycle. Looks cheap down here right?
The second chart is a pattern I noticed. To find the current speed line in a chart I am looking at for the first time, I have to cycle through them. In doing so, I can see where it was broken so I know when and where to reposition it. Well in doing the monthly chart, I noticed that there was a pattern. You will notice in the first set for the ascending speed lines that there are 5 yellow and 4 orange. Also, that there is one orange behind one yellow. I call it a cross-step and it is when the repositioning occurs because of a breakage of the actual speed line, the 1 line, instead of the normal 1/3 line. Well in this pattern, it is five speed, cross-step, four speed. You see it being repeated in the descending speed lines as well: 5 red, cross-step, 1 gold; we need more gold lines. The idea behind this would be a pivot with the descending 1/3 line being continually broken in the future and when a descending 1/3 speed line is broken, a market is ascending. So what I am saying is the speed lines are telling me that we have pivoted and are climbing higher in a longer-term trend. Additionally the current ascending speed line is unlikely to be broken for sometime so long as fundamentals can cooperate and allow. The 1/3 line (the bottom one) of that ascending speed is at $10.02 in July 2020 when the scenario above strikes the actual speed line at $19.47. In October of this year, that 1/3 line will be at $9.10; so we don't want the harvest low to break that!
Edited by Conan the Farmer 2/19/2017 20:24
 (SoyMonthFibChannel.png)
 (SoyMonthSpeedCrossStep.png)
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 SoyMonthFibChannel.png (91KB - 79 downloads)
SoyMonthSpeedCrossStep.png (89KB - 73 downloads)
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Logical question for Sat
