🌾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
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.
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