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.

Crude fell through the Kane Zone and through a bullish ABCD setup, suggesting that this drop may have some more legs to come. It found support at a lower ML of a Schiff set which was first presented here by Eric:

Bulls in Gold paid high price for letting go this short term ML:



First test of this downtrend would be the reaction to this bullish EXP ABCD setup

the weakest one...

Reaction of BIG DOG to this bullish ABCD right at a long term TL is very important:

Staying below the closest Kane Zone tells me the downtrend in EUR is still healthy:

Originally posted by jarek

I'm switching to short term bullish

At last a setup to check whether it is a right stance for now:

... so far a textbook reaction:

yup.....and was this an abcd ending in the zone? retracements are right there as is the 1.27 of last swing down....

Originally posted by jarek

... so far a textbook reaction:

So the setup played out fully to 1.272 at line:



This could be a W4 though, so we still may get the retest of the LOD even in the bullish scenario

I believe I've located the trading chair used by the mad short seller

yes, thanks jim

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