Getting close to a key spot (as posted a few weeks ago, forgot which thread)

stab and roll at PTA...now needs follow thru

quote:

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Originally posted by TonyC
...I like my odds on the sell side right now since Im rolling with the house's money. From where I got it, a stop out now would not hurt my bottom line one bit. Foregoing the small gains for a chance to hit bigger prize at no cost is a sweet deal to me. All or nothing kind of deal...

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We all recall what happened the last time you held on :-) Cah-ching.

Now that's quite a start to the day, eh? Right off that little 4PT, too. MRRD's at work.

yeah that globex 4PC was really nice.
now the pop took us to the last upper VPOC @1006.25 and hit TL with another .685 ?!? again?
anyway, Im hanging in there.

this will be interesting. watch re-test of original line and after that got a line circa 1009 and another circa 1011 ES, after that deeper retest and/or retest of immediate high

full retest of reversal area pivot high is expected.Meanwhile the futures are moving nicely right now and giving good gains.I might suspect some chop going into the FOMC reporting time.After that, hopefully we should get more delirium moves.

Given the ABCD with an ABCD in the BC leg, dead at a key line and area, and then this MRRD ramp, I suspect that was it, and new highs are coming. That would blow out the nice area on the daily/weekly, but what can you do? If not, though, I have a key area in the same area as M, 1009-11, so we are all likely looking at the same things. We'll see.

Keep an eye out here, in case this is just a slightly overshot backtest of those two key lines from the last few days.

So, how much do they gun it up on the announcement? Another 100 Dow points? 150? S&P new high for the entire move? Over the area? Isn't this a forgone conclusion? :-)

Okay, they are just sucking everyone in here, and then they'll explode it up :-)

For those that are new to the forum, it will take awhile to understand my comments, but if you stick with it, you likely will.

yes to the trendline creep.
higher timeframe chart for clarity