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jimkane
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Followed by a bounce to the ML, a rollover, and now a test of the line from below? This may all just be chop/consolidation before a move up, but it sure is doing it from pattern and setup to pattern and setup. It just doesn't follow through and trend, it just flips to the next one. This is typical behaviour after a big move, when they aren't quite ready to commit to the opposite move yet. But this builds up energy, and when it goes, either way, it can really move.
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jimkane
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Watch the little ABCD here for clues as to another move up to the next flip area, or a breakdown and test of the LOD.
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jimkane
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I'm 'hoping' for a move to a new LOD at a spike line near the 1.272/1.460 at maybe 62 to really finish this off. But I rather suspect they won't be able to drop this any lower before they come in like gangbusters.
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jarek
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What I see here is a potential EXP instead of TD ABCD:
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jarek
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Originally posted by jimkane
I'm 'hoping' for a move to a new LOD at a spike line near the 1.272/1.460 at maybe 62 to really finish this off. But I rather suspect they won't be able to drop this any lower before they come in like gangbusters.
Would you in such case deem your set "that has proven itself to me over a period of months" as still representing the price action well? The lower ML is currently at 1170 level ...
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jimkane
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Yes, very good, if it plans to respond off that big setup in here, that would be a very good 'W2' spot. The problem is in the 'if' part of this. We shall see. Recall my potential sea change comments, and also look at this like where would your entry trigger, appropriate to timeframe, be for that setup? Please do not post any proprietary entry work in this forum, though. That was more a thought question than a request for detailed entry charts.
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jimkane
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Originally posted by jarek
Originally posted by jimkane
I'm 'hoping' for a move to a new LOD at a spike line near the 1.272/1.460 at maybe 62 to really finish this off. But I rather suspect they won't be able to drop this any lower before they come in like gangbusters.
Would you in such case deem your set "that has proven itself to me over a period of months" as still representing the price action well? The lower ML is currently at 1170 level ...
With a plunge that severe an overshoot on a set that size is acceptable in the range of what it has done so far. A 3D spike line move would be pushing it, but would also be a really nice way to finish this leg. I guess I'm just hoping they break it down and the area gives way, in favor of the bigger picture areas...
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jarek
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Yes - the price has clear problems to respond to any bullish short term setups
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jimkane
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They sure are holding this, with insane chop, in here, but if they can break it down, watch 64 on the way to 62, there are also some lines and Fibs coming in there.
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jimkane
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On another note, I have a key, key area in the DX at 84, and the big area, equating to the Euro completing that big ABCD at 1.00-1.10, at 93-94. Watch this upcoming 84 area closely, as it's all about the dollar right now, I feel. Unwind that carry trade and all hell is going to break loose, in my opinion.