Kane TD ABCD. I thought I had a sweet sell setup, what I thought was a pretty good Kane Pattern-Line-Fib, completing at 0.618 Fibo Retrace of the GLOBEX Hi-to-Lo, confluent with a Kane DB ABCD also completing at 0.618 Fibo Retrace of the GLOBEX Hi-to-Lo (& 1.618),a Trader's Dream, & 200 SMA touching price. I "put on the blinders" entered & stared at the price action, and completely missed the Kane TD BUY setup completing at a 0.300 Fibo Retrace! The C-to-D leg of the Kane TD ABCD also formed a Kane Pattern-Line-Fib. The Kane TD ABCD/Pattern-Line-Fib trumped the previous setup. I must make a note in my Trading Plan about "keeping the blinders off" when I enter a trade!

Good Trading,

Al Kamego

PS I am still paper trading!
Al KAmego

Thanks for the explanation again

I guess you could say I trade a stack also. I track / trade many of the ETFs and many stocks.

Do you use the same philosophy with the 88.6 on open gaps that are still open from previous days?

I use any .886, even from weeks back, as I find they use them, too. They hunt desperately, it seems, for any .886 on a gap day. But I find this 'works' best only on gap days. In other words, they hunt for some kind of .886 when there is a gap opening, even if that .886 doesn't originate right around the immediate gap. Old gaps may generate additional .886's to use, but they appear to use them most on new gap days. I hope I was able to successfully explain what I mean here...

Thanks for the reply Jim, yeah I see what you are saying...

This should really be under a new thread for this upcoming week, but since no one started one yet...

I think GLOBEX has made its decision, with the start of a break to the upside from the 'congestion'. How many Sunday night/Monday ups out of how may is that? I think the pattern has held since last Sept with only like three times it didn't? Something like that.

Slow grind up, but Moody's just downgraded Ireland and the futures started to come off. How long will that last, three seconds, until they decide they don't care who gets downgraded, it doesn't matter, everything is good, up we go? Let's see.