This content here is "editable" and therefore at risk of being altered to the analysts advantage (hindsight).
I am looking for "El Niño" weather pattern to have upside for Corn this year as drought could roll in and change the crop condition over the summer.
ADDENDUM to chart: The purple rectangles (lines) are at the START OF WEEKLY RANGE EXPANSION DOWN moves and provide clear recognition that sellers are sitting at that level ready to sell and check any advance. This is how the market TEACHES US what levels are important. Instead of guessing that certain "retracement" levels are important, you can "SEE" them clearly, once you know how to find them.
Here's what the chart says:
NOTE TO PURPLE TRIANGLES: There are NO DAILY RANGES ABOVE the start of the WEEKLY RANGE EXPANSION DOWN. The market (buyers) tested the resolve of the sellers, but the sellers didn't allow an entire day above the start of a weekly range expansion down.
NOTE TO LIGHT YELLOW TRIANGLE: The inverse is also currently true. There are no entire ranges BELOW the start of the WEEKLY RANGE EXPANSION UP. The sellers had control and flushed the market down to a new low, but it didn't last. The market reversed right back up. Stay tuned if this pattern continues so we KNOW THE KEY LEVEL of the market.
RISK: 3 AVERAGE TRUE RANGES = 7 cents/day = 21 cents risk overall. June 17, 364 last, ATR 7 3 x ATR = 21 cents risk = 343 stop.
For those that already read this chart, I added this content to the description:
The purple rectangles (lines) are at the START OF WEEKLY RANGE EXPANSION DOWN moves and provide clear recognition that sellers are sitting at that level ready to sell and check any advance. This is how the market TEACHES US what levels are important. Instead of guessing that certain "retracement" levels are important, you can "SEE" them clearly, once you know how to find them.