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Soybeans
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jpartner
Posted 8/19/2015 14:39 (#4741900 - in reply to #4741823)
Subject: RE: Soybeans


tallcornman - 8/19/2015 12:36 jpartner; would you happen to have posted a chart on beans that I would take a look at? I wasn't able to find it. I appreciate the charts that you, frytown and others post. Thanks for your work and comments.

Hi tallcornman,

I haven't but careful what you ask for  :->.  Here is the weekly continuous chart.  I have highlighted the area that sealed beans fate better than a year ago.  We had a pretty good idea where balance was, but that was a red blinking light.  We know where "A" and "B" is, so "C" get pretty limited in it's range.

Price has officially hagopianed so using the simple hagopian rules, you get projections to the mid $8's.

The same hagopian rule applied to the modified schiff fork, get you projection to the 7.50 level worse case, with, one reaction above that.  I lean toward this being the right path of price, since it tested the frequency once, and then zoomed it. 

Not sure how many of you noticed the overshoots on the handle of the fork, but immediately, when I draw a 'whatif' fork, and I see the overshoots of the handle, I automatically am thinking "That isn't 'C'".  I don't know specifically what the numbers are but it is way less than 10% of the time that you get overshoots of the handle and it is the ultimate Low pivot.  A reaction sure, but the "C", is very unlikely.  The zoom retest area highlighted earlier, only adds confidence that the lows this earlier this year weren't "C".

So, putting it all together, we will project the energy stored from the most recent rally and drag our "C" point down.  Price no longer overshoots our ML, the ML slices through our zoom - retest area, and we have price bumping off balance like it likes to do.  It's a tough thing to stomach for many, but truly, price is projecting it's path.   The energy that was stored in the glory days is what we have been experiencing.  This is why there a perceived "boom and bust" cycle.  Price stretches stores energy and snaps back....We can be participants or prisoners, the choice is truly our own...IMHO

Take Care.

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