Originally posted by jimkane

...the A point of that bigger bearish ABCD is a big, key area on the higher timeframes. So, it really comes down to if one thinks a bigger correction is at hand, or that was it and new highs are coming.

So we may expect stronger move either way in the coming week:

Mission accomplished in Crude:





Failure of this big bullish ABCD sheds some light on the recent developments in commodities.

The furthest target of the move off ABCD was reached in Gold, but the lines are still away. Was this a W2 of the move off .886?

ES didn't honor my bullish TD ABCD, so now bulls will have a new hurdle to overcome - bearish GZ ABCD in which the old ABCD is just an AB leg:

Now it will be a small one against a big one:

It broke through the bullish ABCD above, but just to form a 3D at the upsloping ML and immediately bounced to the green ML:



This market is clearly looking for a direction

... and it closed right at decision point as usual:

today was some of the strangest geometry i have ever seen.

the geometry is beautiful... the pieces fit...i just do not have a previous example of as dynamic an abcd continuation pattern running smack into a blt and the blt containing it and turning price......i also do not have a sample of the sequence 1.27 followed by 1.128 followed by 1.27 but the line setting up on the pivots in the way they do...

clf has long been one of my favorite traders that i have kept to myself..... here is a peak