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?

Here is one possible upsloping set I see.

Here is a smaller one.

Both are nice. The second one I am watching, the first I have with the 2nd anchor at the high at 11:14 on 3/5, down a bit from yours. I like how the division lines have been used early on, and then hit three times in a row on the lower one. Your set is worth watching, but do a chart with the one I am suggesting, and then try to tie it together. Once the Fibs groupings are there, with these lines, you'll see why I made the note about 797 and 801-804. Sure, the time factor didn't come into play, but the area is still there, waiting. Notice, too, how the high in the premarket was 796.30, pretty close to the 797 area, and close enough to bias me to the downside at the opening, especially as it started to roll over.

Here are both sets and some additional fibs.
The red set looks great based on your suggested anchor point.

OK, show of hands. How many people think Duane will post a 4-Point Continuation Pattern after the close today?

M, move your anchor point 2 to the top of that bar at the swing-high point there, and relock. Then you are looking at the basics of what I have on my charts.

Showtime coming up soon...

Duane,

When you show the 4-Point, also show the daily pivot (hlc/3, RTH only) and a .564 retracement of the first run up off the pattern and the choppy ABCD pullback. Very cool stuff.

" I also find that these ABCD patterns are frequently alterate ABCD patterns, most often .786 alternate. I make the most use of this in my management phase. When the second leg of the trend is approaching .786 price projection of the first leg, I start to think about scaling out some of the position, and tightening up some of the remaining stops." pg 63-64 Kane Trading on: The 4 point contiuation pattern.

Forgot to show ABCD into pivot. SWEET!!

That is just beautiful stuff.

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