Looking for distance of channel down.
Been following this analog since mid 2012. I am long since a while back in options since it's the best risk reward in this broken stock. Yes, it is broken..
I have been playing AAPL like ZS since around mid 2012, to mark the top. It is lagging. so you have to stretch it. But it's very contructive. What this means is that people will be playing this trough the options market.
SELL ZCU2013 BUY ZCH2014 SHORT CORN SPREAD >> ONLY SEASONAL ENTRY NOT SUPPORTED BY FUNDAMENTALS LET'S SEE
Wheat often makes seasonal lows in early June. Double bottom posted on 20/05/13 and 17/06/13. A Break of the middle leg of the M confirms the buy with projection to 740.0 level. If 740.0 resistance is penetrated we could see 810.0.
The price of wheat is currently resting on the purple line of the last upward fan with the 1/1 grey line from the last downward fan just ahead and strong volume. I suspect a break is coming soon.
Symmetrical triangle is an ideal fourth wave. That's the theory. A practice? I'll wait for breakout.
Nice inverse correlation between CMG and Corn prices.
Wheat often makes seasonal lows in early June. It seems is coming out from a tight consolidation around the 700.0 level (20EMA). Target would be 739.0 at the median line, also late march high - possible resistance.
This chart was easier to make than expected once i had the weekly done it is more or less a copy with a couple more fans added. After closer examination, corn prices appears to be moving from the different fan angles to the lines created by the clones. These lines resemble limbs of a tree and act as highways for price movement much like the limbs of a tree act as...
After doing some research and seeing some close up images of actual charts by Gann, I got the idea of doing this chart. We have a Gann Fan then I cloned the 1x1 initial channel. As can be seen in the chart these channel clones continue to have influence on corn prices as support and resistance. Gann was cloning this very channel on his charts to forecast pricing....