Here is the update of my chart from last Saturday:





Last week's drop confirmed the big bearish ABCD from May 6th to May 13th. The minimum objective for the move off it hasn't been reached yet, so we should expect more downside in the coming week.
I'm thinking about the scenario of another zigzag ABCD right to the same downsloping line. It would alternate nicely with EXP ABCD from the beginning of the week and help to drive prices to 1.272 off the big ABCD.

'Context' rules. The bulls are on the morphine drip now...

Watch for the bigger potential EXP in here, in case...

Originally posted by jarek

It would be scary for bulls if this was it as it comes to the move off our bullish ABCD...

Looks like really is for many

Staying short side bias in here until they really jump it up. Every time I see sudden harsh selling I think 'flash crash'.

12 ES points in 5 minutes!

Euro 70 pips from a new low for the entire move.

Originally posted by jarek

12 ES points in 5 minutes!

Yes, and all off the geometry we found to the tick, and the 'W2' retest. I'm surprised they couldn't break the geometry, I know they'd see this potential outcome if they didn't. This is why I pretty much bet on the geometry, like roofer, each and every time, and then let it play out (or not). That's why we developed our respective methodologies as we have.

Keep an eye out here to see if they can snap it up at all. If they can't and close it weak, watch out.

The line stopped it dead on after a nice 3-4-5 sequence. A moment of rest for the bulls?

Careful here at the 72.50 area.

.382 is where strong trends usually reassert themselves:

Jim I wish I was here also ,but was working. Jim maybe getting a private room where you can see who is actually in the room on a daily basis maybe better suited. At least then you can see who commits on a daily basis and for the ones that can't be there live for personal reasons(day Job, different time zone) can post charts at their leisure or per your request. They have software that a click of the mouse takes a screenshot and sends it directly to your room. As you usually point out with uncanny ability area after area, is it better to take a screen shot and point out the time frame you may see this on then describe it and have no response and only to refresh the forum a couple of minutes later with no response. Their can be rules in the room as if you make a comment and someone has a question but you are preoccupied with your own trading ,you flash a signal or icon saying you will answer when available. If you start to see the interaction is better and more questions arrive you may charge a fee. Your time and energy is money. I guess it is all what you want out of the forum and your members and how you want it structured. This is just my opinion to try to remedy some of the frustrating issues.