Vince there a couple of alternate patterns that I prefer (not saying they are better just different.)
Looking at cn2010 since 2009:
Price: Range equals roughly 165 (497-334=163 so use 165)
2x 165 is current low of 330/335.
April 04 high was 335 which fulfilled all kinds of harmonic relationships at that time
Time = I am using 2 different timing counts
#1: Starts on the high of 6/3/09 and ends on 12/10/09 or a 136 Trading Day (TD) range
If you put the 1/8 points in time on a grid (and .382 and .618) most of the turns can be seen to fit.
#2: Starts on 9/8/09 and ends on 5/11/10 for a 175 TD range.
Again, if you put on the 1/8 pts in time most of the turns can be seen to fit.
Now the cool part.....
The decline from 6/3/09 to the low on 9/7/09 was 4/8 of TD #1 range (68 days)
The rally back from 9/7/09 to the high on 1/4/10 was 5/8 of TD #1 range (85 days) 1/8=17 TD a prime number.
Going forward...
The rally from 9/8/09 to the high on 1/8/10 was 4/8 of TD#2 range (88 days) 1/8=11 which is .25 of 45 degrees almost
The decline from 1/8/10 will be equal to 5/8 of TD#2 range on 6/10/2010.
Now to SQUARE time and price:
The range in price is 165
165 x 1.618 = 267
267 Trading Days from the high on 6/3/09 = JUNE 11,2010
So TsqP at 330 on 6/11/10
My studies say it has a slippage of 5 cents either way and 2 days either way
So, we have a window of 330 to 335 from 6/9 to 6/13 2010 for a POTENTIAL
low in corn prices.
There are obviously other larger patterns ot consider, but for hedging decisions this one is appealing to us.
You can see how it helped explain our extreme bearishness back on 1/5
As always, we use buying triggers to place or lift hedges. Some of those were hit today, others are still in play, but we won't have any hedges left in place after the triggers are hit. (previous weeks high exceeded is one; previous days high is another, parabolic is another)
SO FAR, this of course all fits into the analog of 1980 that we continue to monitor. Every year is alittle different so that might change at any time.
