There is not much to add to the extensive coverage of the recent weeks here. While looking for geometry of Friday's turn on the continuous contract basis I came up with the following picture:



We have an almost ideal .382 bullish ABCD here. Thanks to Roofer's findings based on thousands of examples we know that probability of taking out the high equals in such case 87%. What's more in order to hit Jim's target zone at the line, a pretty fast move would be required... We'll see next week if we are on the right track and ... in the right train

measured moves?

"do not forget that the computers signaled their intent with .886 on gap on 5 on day of high"

And KTK. Those 'out there' did not. Despite the endless posts. They wanted 'proof' from roofer before they would deign to consider it. They wouldn't study it on their own, they wouldn't do the thousands of charts they could have, and draw their own conclusions. They may spend that much energy arguing against it, and arguing why posting about it should require some proof, a better convincing argument why they should even consider taking the time to look at it. And we'll just keep developing incredible new things in here, pounding out endless trades at geometry, and shake our heads why so few want to know what KTK...

Great post, roofer.

I'm just asking, hypothetically, if anyone minds if I'm short-term long side the ES and short side the yen (think long the yen for FX) since way back when I mentioned that. No? Okay, good. Just checking, I wouldn't want to be on something and have everyone upset with that...

And yes, I know where I'm watching for management purposes, and I know how much they have run so far.

Update of today's action for practice work.
Nothing new on the 120 minute. Just thought it was interesting to see the channel.

The 15 minute has Jarek's ABCD as zigzags. I added the Schiff cyan set which I think matches with Jarek's red set. I didn't add the upsloping sets.

Check out that volatility (lack of liquidity is a better term here). ES just dropped 4.75 in a flash, and then right back up! Insane. That's almost a $1,000 swing on four contracts, each way. Wow.

Might be on this long ES, short yen (futures) for awhile. Who knows. Might end right here. Next key price flow area I'm watching for ES is around the low 70's. There are at least two areas before that, and this high here at 57 is a minor area. Looks like that yen may trend all the way back down...

Here's a great question. How do you sit on an ES play during the two times when it closes shortly after the RTH closure? No advice intended here (I give no advice under any circumstances), just an opinion, a thought. I watch the SPY and am in position to offset an ES play with SPY if the need arises. Preferably I have two accounts in which to do this, in case one broker has an issue. This way I could ride an ES position in the aftermarket, and still be able to act, to some extent, if something happens and the ES is 'closed' at that time (16:15-16:30 and 17:30-18:00). Just an idea to consider for you aftermarket GLOBEX ES traders.

Okay, real careful in the yen right here...

And the yen promptly bounces up over a hundred pips. And the ES is battling with that 57. My 'reader' is reading as good as it ever has lately, I think.

And after that bounce, the yen sells off 143 pips, and closes the gap, giving the entire run up back. Insane. But just incredible for trading, in my opinion. I just love volatility.

Practice work. I consolidated what Jarek did on the ES 15 minute chart. I'm only showing the last 2 days -- from where I left off on Wednesday.