Here's the 4-Point I was discussing in Jim's Thoughts, with my key set. The key set line was the main factor for me. On the S&P cash it hit the line and 'tested' it three times pretty much dead on. No matter how you label this ABCD, it was an ABCD to me at a key line, with 'context'.





Now we sit at a key line, with TICK hitting an extreme, 1-min volume short-term climactic, and so on. It would be something to see if they can't bounce this up here. What a play so far, though, eh?!

Also, as a curiosity, the 1.618 hits near that lower //, just about at Laundry's low move for this leg. Very interesting.


Chart created on QCharts, courtesy eSignal.

Or did you try to go long on the little 'almost an ABCD' on the tick chart at 10:12?

I tried to play the TD or an EXP because the C point was a clear 1.128, well it did a 1.46 hybrid EXP/DT or whatever that is. 1.46 made me think Wave 3. Should have looked at the TF setup instead.
No jumping here. Such is trading, such is life.

quote:

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Originally posted by TonyC 03/24/2009 : 15:27:45

yoohoo...riding long,this is awesome.
watching ES@850 for short spot but im trailing my stops 'wide' 'til then.
..."

Quote: " Good judgement comes from experience. Experience comes from bad judgement"

T

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getting close to the first mentionned area. And other are above it too.
now I'd want to tighten those stops on my longs.
maybe it has more to go but hey im playing tighter defense when it gets close to danger zone for my positions. Still riding from 666 tho.
T

quote:

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Originally posted by jimkane

Or did you try to go long on the little 'almost an ABCD' on the tick chart at 10:12?

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and yes I played that one too...to watch it evaporate...heh heh

watch TRS into 850 with the 1.460 hitting my into my area of interest.The price action will reveal their true colors.Just gotta wait for triggers and have management plan ready.
T

quote:

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Originally posted by jimkane

...I'm going to 'guess' that the GLOBEX high will be somewhere between 830 and 835, and the high of the day between 845 and 860, with heavy leanings towards the 860...

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Okay, so maybe I'm not so bad at 'predicting'. GLOBEX high was 829.75 (darn, off by one tick), and the HOD so far 842.25, and looking strong. Even if that is it, I'd say that was a pretty decent guess. I'll update later if we set a new high.

I'd be real surprised if this was it.

quote:

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Originally posted by mreiserer

I tried to play the TD or an EXP because the C point was a clear 1.128, well it did a 1.46 hybrid EXP/DT or whatever that is. 1.46 made me think Wave 3. Should have looked at the TF setup instead.
No jumping here. Such is trading, such is life.

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I see the TD you were looking at, but I don't see any trigger for it. I see the pattern as a DT, since the C point, although a 1.128, was only two ticks different than the A point. Regardless, the pattern and area was clear (.685, .236, 1.460, natural set lower //, GLOBEX set, etc.). That was the most clear and properly proportioned setup for the move, in my opinion.

yes it was and it was my mistake. My play was the TD which was small but I just thought they might run with it right away. I gave myself enough room to handle an EXP as well, but once it breached the 1.27 I got out.
Not well played.

maybe I am seeing this wrong, but this is shaping up to look similar to Jim's new pattern.

I agree, T, with pretty much everything you've said. I commented a little in my weekend commentary on the unlikelihood this is a 'bull market', given all the things it is doing that have never been seen at the start of a bull market before. The intermarket dynamics are indeed pointing to the possibility of something big happening soon.

I also agree 100% with the potential doomsday scenario. There was a time when I thought all that stuff was 'crackpot' nonsense. Then I started to think maybe some of it might be true. Now I tend to think I just see no way that we won't crash back into the stone age. I try and try, but I just can't see how it can be avoided. I even think it may be engineered, not simply something that happened because of greed gone wild. I never, ever believed I would ever think something like that, but I also never thought I would ever see even 10% of what I have seen so far. Sure doesn't make me happy or hopeful for all of our futures, as you say, as 'citizens of mankind' :-(

Great market concepts, T.