01-25-2013 11:03 AM - edited 01-25-2013 02:58 PM
We live and learn. The Beans almost made it to 1442^6 with a high print of 1442 tonight....looking for it to trade into 1426 area then bounce and consolidate. Anticipating a sell in 1438-1442 area, but probably not until Mon
..sorry for the late post. sometimes the mkts pick up speed on us!!
beans hit 1426--that was a good swing buy------we sold 1442 see-------- where we are last 30 min of trade
wheat out @ 779^4 for 11 or so cents profit depending on your size
more around noon central
--12:08--looking for down hard from here in the Beans with ultimate target of 1415 (whether today or Sun)
Then scaling in long 1413-1405 or so
if they need to consolodate rest of session-----exit, reenter short Sun
01-25-2013 10:39 PM
Cat, if you want to pm me your email i can send a chart or 2 - for some reason this site doesn't accept my charting software.
i look at several rythyms and timeframes to analyze.....Elliot count for all the timeframes... believe I posted on one of my threads this week - think we are in a corrective phase (#2-elliot) also in the "Feb break" sesonal...........look at volume bars, trendlines....Also,every Friday, the COT data is released - commercials sold a near net 16,000 contracts in beans = usually, a pretty good indication for following weeks trade....bottom line is odds do not favor another upleg just yet.