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jimkane
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Posts: 33,089
Lots of cool price action things going on here, and following my notes so far. Maybe shortly I'll cover some of them, got to pay attention right now...
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jimkane
Rep: 3,058
Posts: 33,089
How sweet is this??? Watch that 1.128/1.272 off the ABCD for clues. But, I am keeping an eye out for a panic sell if they can't do anything in here.
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roofer
Rep: 3,689
Posts: 3,574
they can fight over the crumbs... i have finished my BLT and am done...
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jimkane
Rep: 3,058
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I agree 100%, roofer, the area is hit, I've been done, but it's fun to watch what they do, and try to decipher the little wiggles down here. Plus, I like to hang around in case they did flush it.
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jimkane
Rep: 3,058
Posts: 33,089
Okay, I was going to try to detail some of what happened there, but I'm going to pass on that. I need to go batten down the hatches, we are going to get hit with our next big storm up here shortly. I can cover some of this with any students I will be working with this weekend if they want. But everyone do some work, look at the string of ABCD's there for potential scalping (if one likes to do that). Notice that although it did set a new LOD, as I mentioned, it basically chopped (albeit in a very orderly fashion) once the key area was hit and that last ABCD formed. This is very typical, especially if the trend move isn't done. The best case scenario from a read standpoint is if this whole mess in here is like a 'W4' and resolves to another low, then it could bounce up and 'backtest' the last key line area, and then really get moving down. We'll see. Probably Cap'n B and Tiny Tim will print another trillion or two over the weekend and get on the horn with Goldman Sucks and tells them it's time to add a few hundred million to their profit coffers on Monday...