| mojave - 2/13/2019 08:42
There is value in ignoring fundamentals at least for a time to focus on what price is saying. I'm just trying to learn here but to me I see that Dec corn did break lower outside the wedge we all had talked about last week. However it did not make a lower low than the last one on Jan 15. On this chart the lows are the same. Now its "job" i would say is to make a higher high. Which would mean taking out 4.04 from Jan 15. Consider how corn has acted since sept....making higher lows but also lower highs (hence the wedge) if we take out 4.04 I would read that as new positive price action and start looking for 4.14 or so and this would be an area that i would make new crop '19 sales. Thoughts?
IMHO, this is one of those formations that requires a little more digging. My advice would be to understand the context that price is doing this in, and then ask each swing what it's job is/was and then see what it did/does. A book could be written about what is going on in there but I would have to use useless material from a site I paid to have access to and that may have been learned from people that have no clue and do not exist to explain it so I will let the others that know better do it.... :-)
Take care
Edited by J P 2/13/2019 11:36
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Technically critique my Dec corn chart
