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TonyC
Rep: 99
Posts: 471
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.
JI
jimkane
Rep: 3,058
Posts: 33,089
But it should have broken down by now, and it's acting all strong, so we'll see. If it's going to break down, it should be any second now. Otherwise, the assumption before still holds.
JI
jimkane
Rep: 3,058
Posts: 33,089
Not that saying it is going up or going down is of any practical use...
JI
jimkane
Rep: 3,058
Posts: 33,089
This is kind of cool in a way because TL creep is almost literally 99+% accurate in my experience. I'm not sure I've ever even seen it fail to play out. But this looks like a first case. Once it breaks away from the line, the whole setup is invalidated. The desire to run this pre-holiday is just too great. I don't think I've ever looked at a case right before a pre-holiday close, though. Interesting to study this one, but most likely an exceptional case. On the other hand, it isn't over until it's over...
JI
jimkane
Rep: 3,058
Posts: 33,089
Wow, they ran it up to just start it breaking away from the line, then they dropped it quick below the line. Double stop sweep, or do I have my creep breakdown play?
TO
TonyC
Rep: 99
Posts: 471
yep, J, i was watching that with 1.27ret with globex high test then TL creep into i.. it broke right on cue..prety cool
JI
jimkane
Rep: 3,058
Posts: 33,089
Yep, as I said, I don't have a single case of it failing in my files. One of only two patterns where I could say that. The other, I recently found my very first case of it not playing it.
JI
jimkane
Rep: 3,058
Posts: 33,089
And yes, T, that 1.272 and GLOBEX high, with a rush up to the high end of the creep channel, was all it needed to set it off.
TO
TonyC
Rep: 99
Posts: 471
btw look at the test of the upper// of the downsloping adjusted ML set on the all session globex 30min chart. That hit with the other factors we just mentionned.


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JI
jimkane
Rep: 3,058
Posts: 33,089
This might be all it can do with all those lows to the left, but if they can get those stops, it may move nicely. On a day like today they can do anything. The only thing I know is the stupider it seems to be, the more likely they'll do it into the close on a pre-holiday.
JI
jimkane
Rep: 3,058
Posts: 33,089
Yes, T, that set is simply awesome.
MA
Mats
Rep: 100
Posts: 262
Thanks for that comprahensive explanation for the entry !

Mats