The counting of the wave structure of 1840-1972 has been revised in favor of a supercycly (IV), the subsequent series of uptrend waves is interpreted as waves I, II and III as part of the unfolding ending diagonal (V). _______________________________________ ● Wheat Futures (CBOT), 🕐TF: 2W Fig.2
The target for wave IV may be the Fibo level of 78.6% of wave II. _______________________________________ ● Wheat Futures (CBOT), 🕐TF: 1D Fig.3
A variant of counting the wave structure of wave III.
The wave structure is expected to become more complex up to the sideways correction. If the correction takes the form of a triangle, as it is schematically depicted in Fig.4, then a good trading setup will open for opening a short position.