It would be quite a surprise for all the Wave 3 callers if this potential bullish ABCD would play out to the upside...
JI
jimkane
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It goes without saying I'm intraday long bias, and have long since had an adequate trigger. I think it is going to smoke until close.
JI
jimkane
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And yes, as it bounces right up to the critical areas in here, it will have to prove itself. But, it went right to the bigger 'Game Zone', and lo and behold they came in in a big rush up. Been there, done that, I've seen them do this over and over. So, I'll lean towards the game continues, and if it doesn't, fine, that's what a management plan is for. But I'm thinking the only management plan I need right now is a MOC (market on close) order.
JI
jimkane
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That checkback was in a .300/.382 zone, with a double TL convergence there, and a key line from a set. Back to a .447 in an ABCD, and starting up again. But, I am not as confident as I was before, for although this is technically nice action, when they rush it up with a nutzoid program they usually don't back it off at all, at least not the kind of ramp I was expecting. So, it may just chop up and down in here, or grind up. I'm just letting it do its thing, as it may also just explode in another strong wave. It does what it does, all I can do is manage accordingly.
JI
jimkane
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1050 here is a key spot, with my most key line. A 3-4-5 look into the area. Now the real prove it time is at hand. A burst over here should accelerate. If it can't break free here it could dump hard. I suspect up.
JI
jimkane
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And there's the expected break up. MOC is the plan. Ride until close. But, as I said, it does what it does.
JI
jimkane
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Notice, too, this is a possible shallow C point bearish ABCD coming up in here.
JI
jimkane
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Wow, my next line hits with the .447 area, and the .786 ABCD, and it sure sees it. No explosive ramp until close. That, in and of itself, is a big clue.
JI
jimkane
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Oh, this is lovely to watch. The 'Game Zone', which there is no time for them to play with today, must be gamed again, or another leg down would likely ensue, in my experience. So, expect it to stop going down right in here, like it hit a brick wall. But, the fact that they couldn't do a non-stop ramp is a very, very telling event, I think.
JI
jimkane
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That is very impressive selling, right through the 'Game Zone' in the after cash. I did get a trigger off that bearish ABCD (my students should see that trigger jump off the chart at them), so for those that took it, this is in full a-kickin' management mode here, with a big smile on the faces of those participating
JI
jimkane
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I like that reopening of the futures at a new low for the entire move. Suh-weet. Now we see if it is just a quicky stop run and back up they go, or if the failure in the 'Game Zone' does imply a bigger move down.
RO
roofer
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i have enclosed the tza trade....it is remarkable that even on the one minute, the logic of our work was there.... even though the odds had dropped to 13%, i gave the trade a little more room until the test and retest setup.. at which point the logic of the geometry said to reverse...i was gone from the short side....

