We began last week right above the ML of the downsloping set anchored at points B, C and D of our bearish ABCD and we finished the week right above the lower ML of this set, while bouncing exactly off it on Thursday:





Notice the line convergence at 1000-1010 level. This is why potential break of the last low should result in acceleration of the move to the downside.

Was this tiny bearish ABCD already it if it comes to bounce?

Unfortunately I have to leave till the end of the day in such an interesting moment. Good trading!

3-4-5 and straight up now?

Too bad you have to leave, jarek. See you later. Great work.

And there's the straight up.

Notice the little bearish ABCD. Now we see.

And see we did.

Does it get any better than today for the methodology? I think not.

Bigger 3-4-5 into the .685 area here. Big up now? Or has that changed this time as we head below 1,000 shortly?

Originally posted by jimkane

...Big up now?...

I'd call that a big up.

Yeah, that's a big up :-) These guys are too easy to read. .685 again.

For me it was a clear 3D right into one of my key downsloping lines:





Time for a well deserved correction tomorrow