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JA
jarek
Rep: 94
Posts: 3,474
We have a predefined Kane ABCD, medianline set incorporating the extreme swings of that ABCD, nice separation and retest.
I guess Geo's 93% rule should be in force now ...

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JI
jimkane
Rep: 3,058
Posts: 33,089
Yes, that's the basis for my area, but look at the natural set upper // here, intersecting with a TL from below, from 7/31 to 8/11-12, which gave me that low on 8/14. But we all know we'll be in the 1,100's soon, then the 1,200's...
JI
jimkane
Rep: 3,058
Posts: 33,089
Crude is going nuts!
JI
jimkane
Rep: 3,058
Posts: 33,089
October now trading over 74, just a little off the contract high, with a wicked cup and handle here. I have a super-major area around 85 on the continuous, but not sure how that may adjust, if at all, with the coming rollover.
JI
jimkane
Rep: 3,058
Posts: 33,089
So, the move in crude today off the low has been $4.45 so far. That's $4,450 per contract, so that would be 89 points in the ES. Hmmmm, should I sit here all day on most days and watch the ES chop, or trade the CL? Hmmm, I'm not sure...
MR
mreiserer
Rep: 110
Posts: 2,220
can't afford to trade crude
JI
jimkane
Rep: 3,058
Posts: 33,089
How about 100 shares of USO? Even without margin that's less than the minimum recommended amount for one ES contract. 65-day average volume over 12 million shares, so it's liquid. Or one of the leveraged ETFs like roofer likes, for even less layout, and some leverage to boot.
MR
mreiserer
Rep: 110
Posts: 2,220
true
JI
jimkane
Rep: 3,058
Posts: 33,089
So, that standard set upper // and TL in the 98 area did turn this down a bit.
JI
jimkane
Rep: 3,058
Posts: 33,089
Looks like it likes this little pseudo-ABCD in here.
MR
mreiserer
Rep: 110
Posts: 2,220
ok, now a run into close or can the little bearish abcd pull it off?
JA
jarek
Rep: 94
Posts: 3,474
OK - thank you for clarification