ES is shaping up nicely for my new scenario, especially with the smallest Schiff set respected very well so far:



However the W4 triangle on the main index could have already been completed on Friday and in such case the usual Sunday/Monday procedure should take place from the start of trading.

EUR move off its big bullish KZ ABCD may be approaching its destination:



But longer term this could be only early stages of the move off the giant bullish ABCD correcting a decade of growth:



Is dollar doomed??

Originally posted by jarek

Bulls in Crude shrugged off all the bearish plays and just continue their upward march...
Let's see what price will bears have to pay for not using the occasion...

This price gets steeper and steeper confirming one more time that when great setups fail, they usually fail badly:

The potential first leg of the move off our 1.000 bearish ABCD looks just about right, so I'll be watching for a right spot for W2 to end:

... and here comes first such spot:

Didn't work out - bearish ABCD taken out together with the whole triangle scenario:

I have taken last week's lesson and I keep now old TLs and ML sets (on a separate chart though). Last low was exactly on Jim's last week long term TL:



And if it also was a retest of the lower ML then we know what to expect next. Although I'm not sure if such overthrow on the test doesn't invalidate the whole concept.

Bullish TD ABCD would fit well to the following scenario, but was this really it?

great charts and play by play action Jarek. I really appreciate it.

Thanks. I already started to think if anybody reads my grumblings at all...

My chart for silver has hit its upper limits and I can't observe any further action off the last bullish ABCD

yes, thanks jim

Originally posted by jimkane
Hopefully at least this leaves you with some understanding of my reasons.