Here is an interesting story. While writing the topic above I was thinking about what chart to show this weekend. Then I noticed that the second date is a palindrome or in some way it is 'symmetrical'. Then I recalled Jim saying that sometimes ABCDs like to be symmetrical around certain point. Then I started digging and ended up with the following chart:





We may see that the BC leg of our current bearish ABCD, which was an ABCD itself was perfectly centered both in price and in time around its 'hub of the wheel' point on August 17th at around 1082 level.
To share the same characteristic the big ABCD should end on September 29th at around 1162 level. What's more interesting - this point is pretty well justified geometrically. Very curious.

C'mon, you oinker, give me that 'W3' flush...

39.50-40 is my next area.

It really doesn't want to give up this 1.000 ABCD area at 41. But it also hasn't reacted to it, either. This is very interesting to watch. I think it will give it up, though.

Originally posted by jimkane

... It needs to 'W3' me here to keep me interested.

Has it already 'W3'ed you?

Whup, there it is.

Whup, there it is.

Whup, there it is.

39.50! Now we see if I have a tiger by the tail, so to speak. Lots of time left today for this to really collapse. We'll see.

Originally posted by jarek

Originally posted by jimkane

... It needs to 'W3' me here to keep me interested.

Has it already 'W3'ed you?

When I posted that, no, as the 1.128 ABCD was at 40.50, the 1.000 at 41. Now it has, as the 1.618 of 'W1' has essentially been hit (it's at 39.30). This is also a key line and other Fib and such area, so watch here closely. Technically I'd love a bounce and roll here for use with a partial position.

Of course no bounce and just continued flushing would be ideal.

Watch the LOD here for the one-tick (can be up to three ticks in practicality) trick.

So far within 2 ticks of the LOD... Boy, would I love a flush like the old days, before the games and the algos.

C'mon, give it to me...

Thanks Jim. Have a good weekend!