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shmendel
Rep: 0
Posts: 33
Thanks Jim
I'll get the posting right and have now learned about the abcd in the cd leg....the hard way.
I'll get the posting right and have now learned about the abcd in the cd leg....the hard way.
JA
jarek
Rep: 94
Posts: 3,474
It looks like there is a good reason for the recent seloff in Shanghai Comp - just completed very nice Kane ABCD (I wonder if Jim has any customers there :-) ).
There is also Roofer's test and retest setup with a 93% chance for reaching the ML, suggesting that this ABCD most probably was a W2 from August top:
There is also Roofer's test and retest setup with a 93% chance for reaching the ML, suggesting that this ABCD most probably was a W2 from August top:
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JI
jimkane
Rep: 3,058
Posts: 33,089
Nice work, jarek. I would be amazing if this was the W2 and down it goes, when everyone is so incredibly bullish on China. Boy, would I love to see that.
JI
jimkane
Rep: 3,058
Posts: 33,089
Here's my quote from my post last night in 'the payoff' thread:
"And, with the above charts, everyone should see why a bounce may come here..."
Eric, recall the area we looked at for the ES, and what roofer posted in 'the payoff'. Any surprise we're having the big up day today?
"And, with the above charts, everyone should see why a bounce may come here..."
Eric, recall the area we looked at for the ES, and what roofer posted in 'the payoff'. Any surprise we're having the big up day today?
JA
jarek
Rep: 94
Posts: 3,474
Yes, we have the expected bounce right off the lines on Roofer's charts. But with such clear medianline handoff as at the second blue arrow on his SPX chart I would be really surprised to see new highs here.
JA
jarek
Rep: 94
Posts: 3,474
Here is another major ML which contributed to yesterday's bounce. This was the 4th time since the July low when this line provided support.
Once it gives way it will be very difficult to return above it:
Once it gives way it will be very difficult to return above it:
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RO
roofer
Rep: 3,689
Posts: 3,574
just as jim gets grumpy when no one participates or no one want what he offers, i get grumpy when categorical statements are made that do not reflect the work at this forum... thus at the top a categorical statement was made about the bears getting hit when skilled bears had pushed all in with their bets and at the low caught everyone off gaurd ...skilled traders using the tools of this forum were not caught off guard...in the end our goal is to be skilled traders taking the money of unskilled traders... we can try to rationalize it any way we want... but in the end that is what we are trying to do..