I have to start the topic again? C'mon, let's get some volunteers in here. Okay, Sunday night showtime, let's roll.

Energizer bunny. Still going... No notable checkbacks...

Originally posted by jimkane

Now we see if that was it right there. All I suspected was when they came in, it would be without regular checkbacks.

I just knew it. That's the 'feel' part of the game that one develops with lots of screen hours.

Originally posted by jimkane

Sometimes I'm uncanny...

Originally posted by jimkane

I expect ES 'straight up'. Just a hunch. Not based on technicals. Probably doesn't happen.

Originally posted by jimkane

I'm guessing the 'frenzy' crowd has come in.

So, what was this based on? It did a little move down into a key area with price action that told me they may be done, then they started to act like they were starting to 'frenzy', take all offers and little bids, just a 'feel', and that may be the start of the expected snap back, given they didn't flush it. And, they did it. Look at that key line and it's pretty clear the games they are playing. Now we see if this is done here. This is an area where it could easily be done. It just depends on how big a move they want to make, what kind of trap.

Originally posted by jimkane

ES just took out a key higher timeframe line. That should create either a big snap trap up move, or a flush, in my experience.

CLF 5 pt pattern on 60 minute.
No longer any chance of 3D into PTA using the red dashed line.
If it drags on long enough, some chance get the lml of the set into PTA.
Otherwise, have to look for other lines into PTA.

Okay, this has a very strong feel of 'risk on'. I'd be expecting new highs in the ES soon if that is the case. 'Dip' over. We'll see. Shorter-term this is still in a very clear downtrend. But, it has hit a very key long area and reacted with vigor. That's the framework I am operating within now. Gold up over ten bucks off its equivalent low.

They are even killing GG, the powerhouse in the sector. Very odd, if you ask me.

I'm going to quit for the RTH posting now, but since I expect action throughout the evening, I'll be watching constantly, and I'll post things as I see them, if anything is worth posting. So, stay tuned. I'm long side bias gold and silver right now, so that is one thing I'll be watching closely. For reference purposes I was intraday short-side bias on both into that low. One look at that ABCD at a .300/.447 overlap with multiple line convergences in silver that hit just after 11 AM and it should be clear why I was on that side.

Lastly, these may just be countertrend bounces in gold and silver in a 'new' downtrend, if we aren't 'risk on' in here. I am fully aware of that. Look at the Aussie and the Euro, intraday, on tick charts, and you'll see why I mention this. They are not acting 'right' if we are risk on. I am keeping this in mind, and I won't stay interested (short-term long side, I mean) in the PM's if they start to weaken very much off this initial push. Just some thoughts. Take 'em with a grain of salt, as always. I'm just thinking out loud so people can see how I think.

These endless flash crashes and flash blasts are riduculous. The market structure is totally broken, and they just won't admit it.

http://www.zerohedge.com/article/illustrated-fat-finger-healthcare-stocks-causes-avalanche-broken-trades-and-pain-anyone-sub-

http://www.zerohedge.com/article/6-1-milliseconds-ambo-first-flash-crash-du-jour

This was posted in last week's topic, so I'm reposting it here since it is a great post.


Posted-05/02/2011 : 11:40:01

Originally posted by jarek

10th bullish ABCD in the recent uptrend in the making?...
This must be really boring for all long on EUR...

Almost fully completed now:

No, I don't get that. What pattern are you looking at?
Using a 1.618 BC retrace leg gives me around 94.31.
Using a 88.6 XA retrace leg gives me around 93.96.
This is using the chart as it was originally.
With the new LOD, I get a BC leg retrace
at 1.27 of 92.80, 1.46 at 93.92, and 1.618 at 94.86.
The XA leg retrace of course does not change:
78% = 92.78 so matches up with 1.27 BC.
88% matches with 146 - 93.96.
Not a close match with the 1.618.
Price projection matches:
127 PP with BC 1.618.
1.0 PP with BC 127.

Chart coming in a moment.

Originally posted by rat89

starting from 95.29, b pt at 91.16.....pls chk me if i'm wrong.....

jarek,

Very impressive work!

Good Trading,

Al Kamego