Fundamentally looking for soybeans to drift lower through fall and reaching the .618 level of the impulsive move higher that started last year. Since this is a continuation chart I am not married to that level but will be looking for signs of bottoming. The catalyst higher will come with Chinese buying and South American weather premium.
I've just found you and started looking at your charts, very clear and consistent, congrats! Let me ask you, do you follow wheat and corn?
PD: I'm fond of Elliott and let me ask you something: the internal structure of wave 1 seems to be quite ambiguous if I can use that word, can't see how it is formed, anyway love your charts
Commodity_Operator
⋅
@LudovicoSettembrini, I updated the count and posted it. Leading diagonal for wave (1). (1) should be a red 1 for the first leg of the blue (B). The chart can get messy-should be drilled down to 4H.
LudovicoSettembrini
⋅
@Commodity_Operator, Thank your for your reply, when I told you about wave 1 I meant to say the principal one starting in 2019, if I count I see like the internal structure is quite difficult to see for me don't mean is not right. I see wave 4 getting into wave 1. Big hug! Keep you following for more updates, I like to follow agricultural commodities as I am a farmer in Argentina.
PD: I'm fond of Elliott and let me ask you something: the internal structure of wave 1 seems to be quite ambiguous if I can use that word, can't see how it is formed, anyway love your charts