Call me crazy, but here is something I am watching. It triggered yesterday, and is a swing play (although I can also play it intraday using the setup for my 'bias'). It seems to fly in the face of what everyone thinks right now, and that intrigues me. I'll start with a zoomed out daily. What is cool here is that I put this set on, an 'adjusted' set along the area of the upper hash mark, and it pointed me right to the low. There were many excellent standard sets that were close, but this set nailed it. In practicality, the differences were not critical for trading the higher timeframe anyway. The point is, for this example, where the ML comes in, and what structure there was into it.





There's a very clear structure heading up into this ML. I'll zoom in and put a few things on there. What makes this one extra interesting is the addition of some of roofer's recent work on there to support the area a bit.





GS has an ABCD into the area, with a 4-Point Continuation Pattern in the BC leg. I added on one of my 'adjusted' sets, and the work based of what roofer has been showing. Note the spike line going into the point market A. I have two sets on my personal working chart (the first is not shown here or it would get too confusing), based on points one and three of the spike line, but the obvious set, based on the swing high between point one and two, pointed a bit higher, and although significant (if this setup gets blown out, that may well be a major contributing factor, along with this being a 'wave 3' and not a CD leg), I wanted to focus on the ABCD at my lines and Fib area. The other possible spike line set I like is shown, using the swing high point between the spike line points 2 and 3, something I have seen roofer do here and there in some of his posts.

As far as Fibs, there are price projections in there, and a .300, .382, and .447 off key swing points. There is more coming into the area, but this is enough to show the area. I also showed the 1.272 off the pattern, and how it comes back into that lower line area, which would form one heck of a big spike line. I made a point way back to a student that frequently spike lines will fall right on adjusted sets that I have. If you study and understand my sets well, you will see why that is, and it is quite interesting. They are two totally different concepts, of course, but geometry is geometry, there are only so many key points to work with, and if you have a spike like and you don't have an adjusted set overlapping it, you should be studying why, because you likely missed something.


Charts created on QCharts, courtesy eSignal.

again... the simple line should practically jump off the page at you..

Excellent, that was what I was watching when I mentioned it triggered yesterday. Just fantastic.

and though this is more advanced or more basic depending simply on the way you see, i though i would show how classic kane is made qualitatively different by there being a line present...thus'' i rarely take a trade anymore that does not start with a simple line''

It's just brilliant.

Here's a follow up to the GS play.





So far, high to low, it moved 23.20. I added some things onto the chart. It's kind of cluttered now, but I'll try to explain what I put on there. I added an obvious 'adjusted' upsloping set, that's easy to see. I also added a 'crazy' downsloping trendline in thicker red. This overlaps a curious standard ML set, using point B, the 12/2 low, and point D. The ML just about overlaps the 'crazy' TL exactly. Some basic Fibs off the three key swing lows are on there.

Based on work I show in the one-on-one, this is also dead on my 'first thrust' area, so here is where I expect a bounce. If I don't expect the pattern to play out to that 1.272 and lower // area (or more), this is where I look to start scaling out. Otherwise, I may move the stop down, or do a partial scale and move the stop on the rest, depending on what my overall premise and market outlook is. This differs a little from an intraday trade because I have the broader market and sentiment to weigh in here (although I also have that, to one extent or another, intraday, too).

No matter what happens from here, especially with the really tight entry that this one gave, and over 23 points of movement, this has been a great swing play so far. I guess if I was crazy, I was crazy like a fox...


Chart created on QCharts, courtesy eSignal.

Swing play still motoring along nicely... Now off over 27 high to low, and looking pretty weak. When I first started trading my main way of playing was options on swing plays, holding from a few days to a few weeks.

Down over 33 high to low at today's LOD, trading 59 handle. Not bad.

So, as this motored down nicely, where was I especially watching for the next potential bounce? How about this obvious spot?





Sure, there is a lot more there, but this shows two of the things that jumped right out at me, and sure enough, GS liked the spot. Now what? Is that it, or does it roll down for another leg? Again, this spot (the line intersection, if it reacts there) would be an area where I might be looking at scaling some, depending on my premise and if I really felt it may still be able to get down to that lower // and 1.272 area, or below. Now I set up the areas in here and watch how it acts.


Chart created on QCharts, courtesy eSignal.

Okay, you are all watching the original line here, right?

Woo-hoo!