yesterday's last hour pop was not a legit pop, imo..just some late day covering I think...and im glad i closed on the high tick of the close.
Now, this could go to the DT areas next as suggested by Jim.

Interesting spot know with that ABCD nonglobex.

Mats

Yes, the ABCD was right at a key area I had. Now we see, with this smaller bullish ABCD, if this is a CD leg or W3 on the way down here. This will tell me a lot.

Reacting dead off the ABCD. Now watch what it does in here...

It feels a bit small to correct the whole decline.
Both time and price.

But as you said wait and see.

Mats

A real battle going on !







Mats

Seems like just pre-holiday chop, and that almost always, in my experience, breaks to the upside. They like to use the illiquid time to ramp it a bit. We'll see. As Mats said, it may need more bounce than this. I'm still giving this bearish ABCD the benefit of the doubt until they prove it otherwise, but this is a battle of timeframes, and the upward bias of the end of the pre-holiday week is weighing in strongly here...

some chart, energy point @890, 15:00







s,

Nice charts, guys.

Now, this isn't based on any actual stats or anything, but I think the odds this breaks to the upside are 99%. Just a thought.

I'll just say, this is perhaps the wickedest case of 'trendline creep' I have ever seen, on a 3-min chart. Do a set using most of the 1400 hour from Thursday, 'locked' at the high today. That gave me the early AM low for a long side. But this creep here is unreal, and that almost always breaks violently. Given they tried to pop the stops up and came right back in here, this may get slammed after all. Let's see.

It's really cool if you draw the TL in from the Thurs low and today's AM low. This entire creep is bounded by the lower // and that TL.

Thanks for that comprahensive explanation for the entry !

Mats