WOW - what a busy Saturday in the forum! Haven't seen anything like this in quite a while ... Better times for the forum coming? :-)

Okay, so far it is starting to behave 'normally' and ramp off the low there. I would expect straight up from here, all throughout GLOBEX. But, this starts to set up any of the various big down scenarios, too. So, it is too early to say what it plans to do, but I can't wait to see.

Originally posted by jimkane

... I would expect straight up from here, all throughout GLOBEX...

So far so good. But will it be Friday-Monday business as usual or is the market finally going to break this amazing streak?

i find it useful when a trader will tell me what caused him to shift focus to a trade premiss... this was the chart that triggered my scanning for a turn yesterday

Jim - do you allow for an ABCD with an EXP ABCD in its BC leg?

Yes, jarek, any ABCD can be good in a BC leg.

Important battle now at X marks the spot. The black upsloping line provided support during the last 2 bottoms:

For the first time in awhile I'm feeling a little bearish. If this completes this ABCD down around 48-49 I'd have to see how it acts. It should act like a 'W3' and not mess around with a big bounce. But something feels a bit different now, so I may be looking at giving things more breathing room when they hit support. Maybe it's nothing, but I'm just saying what my 'feel' is right now. First it has to drop from here to even go to a place to show me anything on this potential premise.

I didn't see your post before mine posted, jarek. Yes, this is a key spot, hence my last line in that last post. There are two good layers before my key area, too. So it will have to prove itself here.

That support is now gone. Is this Friday going to be the THE ONE? If yes, they chose the timing perfectly - a lot of players these days are afraid to take shorts on Friday.

Just watch how this acts off this major 1.128 area here, in case this was just a big stop run.

Roofer, what u are alluding to with the multiple timeframes comments is that they are deliberately omitting the 'CONTEXT'?.They are just blind to the bigger picture within wich the current price action,indicators,geometry are set up?. That's a big time mistake to deny 'Context'. And Jim will tell you: quote:'without context you have nothing'...it is so true I believe.
As far as computers go with their millions of calc per nanosecond, they still can't beat a well trained human mind with anticipatory instincts,rock solid discipline and a real 'trading plan'. But these types don't come by often and the brain can only function at peak performance for just a finite period of time,unlike comps that can run forever.So I'd assume that's why only a small percentage of the trading population can consistently beat the comps at their own games. And I think those who run the comps are fine with this fact because in the long run they still take the money of the weaker minded masses anyway. So that cycle is perpetuating, making the market wheels go round and rewarding only those who work hard at their trading craft by whatever means and methods necessary.Indicators or not, whatever works is what matters.
Being consistently profitable is no easy task but feasible I think, or else I wouldn't be trading at all. How can one achieve that goal? it's like climbing Mont Everest, many try but only few make it and along the way up you just learn about your true self and deep down inside the only fight u have is with yourself not the mountain...

regards,
T