🌾Wheat (ZW): Elliott Wave Analysis
●● Preferred count
● Wheat - CBOT (ZW.F), 🕐TF: 1Q
Fig.1
The counting of the wave structure of 1840-1972 has been revised in favor of a supercycly triangle (IV), the subsequent series of uptrend waves is interpreted as waves I, II and III as part of the unfolding ending diagonal (V).
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● Wheat Futures (CBOT), 🕐TF: 2W
Fig.2
The target for wave IV may be the Fibo level of 78.6% of wave II.
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● Wheat Futures (CBOT), 🕐TF: 1D
https://www.tradingview.com/x/AEuU76ay/
Fig.3
A variant of counting the wave structure of wave III.
The wave structure is expected to become more complex up to the sideways correction. If the correction takes the form of a triangle, as it is schematically depicted in Fig.4, then a good trading setup will open for opening a short position.
📚 Elliott Wave Guide & Ellott Wave Archive ⬇️⬇️
● Wheat - CBOT (ZW.F), 🕐TF: 1Q
Fig.1
The counting of the wave structure of 1840-1972 has been revised in favor of a supercycly triangle (IV), the subsequent series of uptrend waves is interpreted as waves I, II and III as part of the unfolding ending diagonal (V).
_______________________________________
● Wheat Futures (CBOT), 🕐TF: 2W
Fig.2
The target for wave IV may be the Fibo level of 78.6% of wave II.
_______________________________________
● Wheat Futures (CBOT), 🕐TF: 1D
https://www.tradingview.com/x/AEuU76ay/
Fig.3
A variant of counting the wave structure of wave III.
The wave structure is expected to become more complex up to the sideways correction. If the correction takes the form of a triangle, as it is schematically depicted in Fig.4, then a good trading setup will open for opening a short position.
📚 Elliott Wave Guide & Ellott Wave Archive ⬇️⬇️
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