This is how I see the potential bearish ABCD Jim mentioned in his last post on Friday:





It was rather too big for a W4 of the first move down off the big bearish ABCD from the beginning of the May. But it could have been a big W2 of that move, in which case we would sit just in front of Wave 3 of 3 down.

On the other hand if the whole move off the big bearish ABCD was already finished on May 25th, we may have the second setup Jim pointed out:





In this case we should expect a smaller W3 up :-)

Either way this is shaping up to be a volatile week.

Beautifully simple! Very nice trade. Thank you for the cool lesson. You sure make it look easy.

"Chance favors the prepared mind." - Louis Pasteur

Al Kamego

A nice 3D with a simple line stopped the decline dead on. The bounce off it quickly reached first Roofer's target:

Very nice.

Al Kamego

Same story all over again - every time the market approaches an important decision point, bulls get an invisible helpfull hand. But what if they don't at some point in time?

It is important for bears that HOD will hold:

I like that chart! Nice work.

Al Kamego

Looks like the setup above was the "play of the day"
The decline (or the first part of it) was again finished by 3D. And this amazing Roofer's set caught the bounce spot on:

tired.....the geometry is holding out the possibility that the last two days has been part of a larger abcd with the abc completed.... just took off some of my shorts in the after market initiated at today's high based on ... what else .886 on gap...only 17 trading days to july3....

day after day, simply because i am focused on the specific entry,,, there it is....

Here is an interesting update of my chart above:





Time to decide - W3 up or bearish ABCD?