Okay, I guess jarek must still be skiing, so I'll start this week's topic. Let's make it another monster week for quality posts.

Watch this bearish 1-min ABCD for clues.

SLW 'making its move' here. Now just about 40 cents from the new high. Recall the premise on this one. A move off that immediate resistance area for a possible short-term short trade, then the swing play move to the magnet overhead lines from the SL's and such. Soon we'll see. Maybe it plays out, maybe it doesn't. It's all a probability game. You take your shots when you have your setups, and the chips fall where they may on any given play. That's trading.

Watching ES for the next lower level, in case.

Next area. Then we see if they are really going to sell this. It would be amazing/cool, if after all those clues that they ignored earlier, they waited with it until the Fed minutes, then did a big dump.

Originally posted by jimkane

Through the green set ML. Lower // and key Fibs 28.50-29.25.

A key line and major .382 here at 1330, so keep an eye on it. There is such a mish-mash all the way down this one may stutter-step all the way.

29.75 now before I even got this posted...

Okay, top of the area hit. It would be nicer if it could get deep into the lines a bit lower. But, it's there. Now we see.

Notice the bullish ABCD in here, too?

Get ready in case this is a 'W3' down... 26 and change next stop.

Be ready for an upside move, in case that's their play.

In other words, this is a key decision point for them, and they'll likely do something with it. Be ready to manage or play accordingly. Don't be stubborn, stick with your plan.

Thanks - I must have been sleeping indeed