Hi Jim,

Thanks for opening this Forum to your students and giving us an opportunity to show our charts and share our ideas.

Here is a chart of todays ABCD's in the russell. I will post a context chart later. Today was one of those days where the market changes direction on Jim's unique Fib numbers, Had you been trading with standard fib numbers you may not have noticed these PTA's. Is it me or is .564 becomming more and more prevalent?

This is a great example of why I don't use 'profit targets'. Imagine if I closed at that lower //, only to miss most of the collapse. But I see why some like the higher probability of the profit target, close and give back none, and on to the next trade. It just isn't for me, since I'm a 'trend trader'. That mandates that I stay with the trend, by definition. That ABCD was my key setup for the day, too.

It may blow right through this, but I thought it was an interesting scenario. 5-point pattern. Possibility of a wave 4 bounce (although if this is perceived to be a wave 4 it doesn't look very corrective)?

ER loves .886

Need ABCD to jump on this train. Nothing pre-market in the ER. What are you guys looking at?

Hi Duane. I see the possibility of a trend direction ABCD that comes in with that TD and median lines if it makes it down there.

Hi Micheal,

In the first hr of trading I look at the 34tick chart especially if I think the market is going to run. I got this from Jim. This low hit median line, will post latter.

Duane, do you have the tick chart set to 24 hour session?

Yes, somtimes the ABCD,s will begin to form overnight. I look for this everyday.

That's great stuff. Thanks

Jim, after all would you have considered this a valid wave 4 bounce setup?

thankyou duane i knew it was back there somewhere...