Hi g, Jim,
Thanks !!!
I enjoy following your posts/comments and do my best to understand them.
Here is your post for convenience:
"Yes there will be a bounce, but bc it printed 7.55 (Stated in my warning post) it's most likely it will not be up as high as 8.00, In order for corn to move above 8.00, it will need lots of work, many days in a trading channel working it self out from a bearish fractal that was enable at 7.99.
Corn is currently testing 7.48 S/R, after some intraday zigzags here, if fails to find support, then 7.11 is next support / objective and so on.
"
On this:
Price did bounce off 748 ish.
Do you consider the current state at 768 as a successful bounce or just intra day noise ???
Price at 768 looks like an intraday S/R to me and Price is bouncing off it.
If price breakes above 768 I might expect a Long trade to be successful to say about 790 from your comments. I would not likely Short until it broke below 748 ish.
Just interested in your thoughts. My "normal behavior" would be to wait TOO long and Price would be at 790 again before I did any thing !!!!
Now at 771 and still heading north !!
I am only looking at "short day trades"....And trying to make sure I follow your logic.
Thanks, Lee