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I am using Photoshop Elements 2020 and I am looking for the color balance setting. Usually it was in the drop down menu of create new fill or adjustment layer but it's not and I cant find it anywhere.
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This si the closest you can get in PSE.....
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Elements does not have a color balance adjustment layer tool. I would say that the Hue/Saturation adjustment layer gives you the most control over color. You can also use the Photo Filter adjustment layer if there is a particular "look" that you are going for.