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| dec corn: So as I still believe corn has another leg down to go there is a good possibility that we are close to a near term bounce as I have laid out in the continuation chart below. A a push down to the 352.2 should set up a nice bounce towards 370 in a 4th wave higher with the 5th wave left to go.... I will be buying this market on a push down to these levels with that 3.68-70 target in mind.
red wheat is another story as I have a cluster of reversal areas that could come into play. As you can see below the 450-457 area looks to be a near completed zig zag for wave 2 with a wave 3 higher to begin soon. The other scenario is that we push past these levels I have listed on the chart and head closer to 439. That is perfectly fine but what I do not wanna see are prices close below that 439 level....
that being said I will be buying this market on any hit of 457 down to 439 as a bottom could definitely be put in here soon. and risk to reward is to my liking.
red wheat daily chart on top and corn on bottom
Edited by Mr Enigma 11/18/2015 07:59
 (red wheat.png)
 (corn daily.png)
Attachments
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 red wheat.png (82KB - 66 downloads)
corn daily.png (69KB - 81 downloads)
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As requested Bkadds Red wheat and Corn update..
