| vailcat - 8/19/2015 21:26 Jpartner Im trying to find the 3 little bumps on balance you were referencing for the present day chart. Was looking in combine when I typed now I'm home and reading this again and I'm just confused. My question is on the screenshot I posted would that be the 3 bumps on the balance line you are talking about? The lower set of purple lines where we bounced off the balance (dash purple line) 3 times now and we have sunk below it and it projects to 810ish? or is it somewhere else you are alluding to? Trying to understand what is the 3 latest "bumps" off balance you are talking about. Sorry just trying to work on this balance stuff. Tough to find enough time to get it down during harvest here:( thanks again Hi Vail, Ok..I think my terminology is messing you up..sorry. The rallies that happened in the bean market through 2013, were projecting an area of balance. Just from the fact that the trendline had been test so many times, it will be balance of some sort. So, when any market is rallying like that and you see stretches away from the trendline, in the back of your mind, you need to be thinking that "As above so below". If we are that high, we will in some form have to pay the bill below the line - as price has stored energy that needs to be expended. The bigger the formation, the more energy that needs to be used, the more time/price will be necessary to exhaust the energy supply. The three bumps you referenced would not be the ones on the handle, but instead are near pivot lows, where the whales starts working price over. These formations take on lots of different looks, some are bumps with washes, little coils, maybe they will even through a press in there if they think there is someone vulnerable. As a general rule, the first move is always bait, and if it feels safe to get in, ....it probably isn't. |
Soybeans
