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    JA
    jarek
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    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:


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    JA
    jarek
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    (Edited )
    Originally posted by jarek
    It is now almost 15 minutes above this level and this should be really telling IMO


    ES just fell below the line again after staying for almost 20 minutes over it. Looks like it need to gradually adapt to this altitude
    Think high mountains climbing
    JA
    jarek
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    1
    (Edited )
    Again - is it possible it's just us??


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    JA
    jarek
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    (Edited )
    Originally posted by jarek

    Originally posted by jarek
    It is now almost 15 minutes above this level and this should be really telling IMO


    ES just fell below the line again after staying for almost 20 minutes over it. Looks like it need to gradually adapt to this altitude
    Think high mountains climbing


    Last time it was a full 20 minutes over the line and it returned below the line for less than 1 minute. Resistance changing into support?
    JA
    jarek
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    (Edited )
    Originally posted by jarek

    ... Resistance changing into support?


    Judge yourself:

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    JA
    jarek
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    (Edited )
    What a perfect bull trap, that caught many including myself. And that game with support for a while... I really didn't expect that the last ABCD will play out just to 1.128, although the lines were there:


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    JA
    jarek
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    (Edited )
    Originally posted by jarek

    ... the lines were there...


    ... also on the longer term chart:


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    JA
    jarek
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    (Edited )
    There were all reasons to be cautious at the HOD:


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    ... but I was so concentrated on the upside, that I lost them from sight. This is why traps are so successful...
    JA
    jarek
    Rep: 94
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    (Edited )
    Before I ditch the long side completely I decided to wait and see whether this climaxing move to the downside is not a ... CD leg of a bullish ABCD:


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    That would be a masterpiece - first a bull trap and then a ... bear trap and all in one day...
    JA
    jarek
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    On other front Crude responded positively to DT ABCD (although it was a 1.46 and not 1.272 one) and tries to get back above this broken TL to invalidate its signal:


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    JA
    jarek
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    At the target in case of ES:


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