Weekly Grain update 9/4/22

Overview

November Soybeans

From 8/7/22 update,

Continuing from the Overview, we are now looking for 61.8% the other way at 1438.00 on the rally from 1366.00 to complete the 61.8% to 61.8% target. As mentioned in the Sept. we do think it can go into wide swings for a couple weeks between the 61.8% levels of 1472.00 and 1366.00 and the major Gann squares of 1464.00 and 1368.00. When it does get caught between 61.8% levels it is not the time to use retracements on the smaller moves as the swings are wider and quicker, as you just saw this week on the moves from 61.8%.

What happened last month is a classic 61.8% trading range from the ONE44 61.8% rule,

Whenever the market holds 61.8% of a move, look for it to go 61.8% of where it just came from. This usually happens when a market is directionless, or in a consolidation period.

The major Gann squares of 1368.00 and 1464.00 also had a big impact on last month's trading range, as the chart above shows.

We will give some last targets for the September contracts and start updating the January Bean complex and March contracts in Corn and Wheat and Law of Vibration charts next week.

Thank You to all the new subscribers!

Being this is a weekly update we give all the key levels to watch for the week using Fibonacci retracements and Major Gann squares. We set up scenarios to look for when a level holds, or fails based on these methods, so it is very important to know for yourself how to use them following the ONE44 rules and guidelines. The best way to get a better understanding of these methods is to read all the posts (even if not on Grains) and watch our YouTube videos, as we explain why we think what we think based on the rules and guidelines. It is also important to view all the charts, as they have the key levels marked on them, if there are extended moves. We will show the importance of this in the December Corn update.

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