againstthegrain

againstthegrain

to sleep on it...

againstthegrain

For a better risk/reward, I would wait for confirmation above 149. Alternatively, longs at this point with tight stops would do the job as well.

againstthegrain

I still do not like longs on most of ags, unless you aim short term and get orthodox with your stops. Since my previous post about one month ago (see link below), SB11 is keeping its pace moving downstairs. At this point in time I see no signs of reversal, instead, my reading says we are about to “dive the five”. What comes after that remains to be seen. It is...

againstthegrain

I would not go short on SB#11 unless we break the 14-level. It is true the possible ABC sequence can turn into a 12345 downtrend, but at this point in time both scenarios are possible. I would stay neutral for the time being, but if you really want to trade short-term, I would recommend evaluating a possible buy at levels above 14.90 with (keeping tight stops...

againstthegrain

finally, dxy and oil decided to give some room for ag commodities. my expectation for a c wave may be under way. for those trading short term, a buy at today’s high could yield some profits on the way up. if you like gaps, one more reason to start drawing your strategy. for now, I am keeping my long.

againstthegrain

Here is my contribution to the nice ichimoku analysis done by Kumowizard and posted at www.tradingview.com The wave count on the weekly chart reinforces the idea that bears will keep control on the mid/long-term. At this point in time it is pretty safe to assume that intermediate-3 is consolidated retracing the full 2.618 ratio and suggesting this would be an...

againstthegrain

The awesome oscillator shows the downward trend is over by divergence between the 3 and 5. The next move appears to be the a-b-c correction that would form a wave A. Fibo ratios are in place suggesting the next possible targets. Weekly chart turning bullish with MACD divergence. I know the big drop today is somehow scaring (good volume tho), so to be on the...

againstthegrain

Soybean has been a tough market for those traders seeking volatility as it has been on a “wait-and-see” mode for a couple of month now. I do not expect any major movement on the short/mid run; however, I do see a possibility to “widen” the current trading range. The wave counting above suggests that a B wave would be completed (or nearly completed) and a possible...

againstthegrain

(Forgive the terrible joke, but I couldn’t hold myself). The 50% retracement on Corn suggests that a minor correction would be over making possible an “a-b-c” counting thus getting ready to resume the upward trend. However, at this point in time, it would be wise to keep an alternate count in sight as this correction could easily (and most likely, in my opinion)...

againstthegrain

Here is my two cents on a possible reversal level for DXY. I am carrying my wave-counting going “by the book” (i.e. following the original/classic Elliott Wave Principle). 1) wave 2 retraces 0.618 times wave 1 2) there is a 3rd wave extension 3) wave 3 extension ends at 4.236 fibo 4) wave 4 retraces 0.236 times wave 3 5) wave 5, when 3 is extended, is targeted at...