I'm going to start an elliott wave analysis for corn. Let me know what you guys think. I think we are on the fourth wave and after another strong upward rally we may see some strong selling. For more analysis go to http://www.commoditiesvue.com
" I think we are on the fourth wave " Or 2nd or minor 3rd of the 5th. Learn to trade, not divine the stars...
Give him a break rcanfiel, the guy trades real money and contributes something of value, although I am not keen on EW analysis, his site is easy to navigate. I like using it to check out the futures charts and options. He is making a contribution which is more than another collection of mindless smiley face responses to "Black this or that". Peace.
EW is not "something of value" It is trading voodoo. Every EW seems to have a different wave for the same market at similar times. Cycle traders rarely perform well. Like Mr. Profitunity and his little fractals...
It all depends some people love it some hate it. I love it....had great profits with. What I like to do is sell off of the fifth wave and purchase a call option. Acts as a hedge. I like to sell slightly below the market and let the market come to me....that way if the market continues to rally I still make money...
Quote from commoditiestrdr: It all depends some people love it some hate it. I love it....had great profits with. What I like to do is sell off of the fifth wave and purchase a call option. Acts as a hedge. great. please post your broker statements. Otherwise, this is EW crapola. And you are not supposed to be spreading "your website" all over ET unless you are a sponsor. That is clearly listed in the terms of use. Free, interesting or not. It is obvious your next step, is to use ET publicity to drive trafic to your site, either for some form of p, or to attract advertisers. This was the path of FX245 - who tried to build his own forum off his thread. I have forwarded your numerous posts to the site owner as spam.
BAM!! That put the little kid in his place. Surgically placed response. I'm not an EW fan but I like your patience. First, if you are going to analyze a quarterly expiring commodity like eCorn you can't (for efficiency sake) use a daily chart. there is too much margin for error. See attached longer term CVB (Constant volume Bar) chart.
This is how I would like to trade corn. I think right now we are on the fourth wave of the impulse BUT we could have already completed the fifth wave of the impulse wave....Elliott can be tricky like that what I would do is look to go short corn in march at 465....let the market come to you...never enter at market. Then look to purchase a delta neutral call option at around 475....straddle the market. If you are trading on a fairly small account you can write off the option losses http://www.commoditiesvue.com