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jarek
Rep: 94
Posts: 3,474
Here are my lines for today:


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jimkane
Rep: 3,058
Posts: 33,089
Ah, now I see why I felt queasy alongside those bulls...

Did everyone see that area?
JI
jimkane
Rep: 3,058
Posts: 33,089
And that one?
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jimkane
Rep: 3,058
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They have tried that TL so many times now, each time with a higher low. I suspect it gives way shortly, and we get a big upside explosion. I haven't seen such fantastic swings since the 2008 crash times. It's just incredible.
JA
jarek
Rep: 94
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Jim - do you try to draw ML sets in these circumstances or just use TLs and/or retracements:


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jimkane
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I always draw sets.
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jarek
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Posts: 3,474
Also using yesterday's wild bottom?
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jimkane
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Tough question. Given that that bottom was dead on the area posted in my monthly commentary, and pullbacks today from that rise were at Fibs, if it is appropriate, I'd say yes. I think that sell was legitimate. I think it went right to key areas, including an .886. I think it's technically valid.
JA
jarek
Rep: 94
Posts: 3,474
OK - thanks.

Quite interestingly we had two very similar Kane ABCDs on different timeframes (although both on 1 min) - like fractals:


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JA
jarek
Rep: 94
Posts: 3,474
Looks like they managed to stabilize the situation a little bit - a mere 8 points range in the last 40 min
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jimkane
Rep: 3,058
Posts: 33,089
Nice chart, jarek.

So, gold is at new highs for the move, and a little jump from new all-time highs. Of course the Gold/Euro chart tells it all.
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jarek
Rep: 94
Posts: 3,474
Jim and George - thank you for the compliments. Your efforts here have always been a real inspiration for me