Wheat setting up all too perfectly.
Looks like a perfect 5 wave Elliot followed by 50% ABC correction.
I'm starting to look for these more, and I feel like I'll be able to trade them soon. For the moment, the only trades I'm getting into are when the market tells me which way it's going and I get in along with it. That means linebreaks, so I'm waiting for the down-trendline to break to the upside.
I'm starting to look for these more, and I feel like I'll be able to trade them soon. For the moment, the only trades I'm getting into are when the market tells me which way it's going and I get in along with it. That means linebreaks, so I'm waiting for the down-trendline to break to the upside.
Note
**This is only paper trading***This time it was not too good to be true. I missed the first break, but I caught the retest and I'm currently in it now for +500, and my stop above BE causing me to not sweat the details.
I am only just getting involved in the ag's as a sector, but they seem to trend pretty nicely. Likely I will hang around.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.