JI
jimkane
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Posts: 33,089
I have to start the topic again? C'mon, let's get some volunteers in here. Okay, Sunday night showtime, let's roll.
JI
jimkane
Rep: 3,058
Posts: 33,089
62 doing me some nice justice now... Notice how the dead stop, and then lack of reaction at that key .447 area, followed by the breakdown through it was a big clue.
JI
jimkane
Rep: 3,058
Posts: 33,089
If the GZ goes (gives way) I'm watching 55.50 next. Notice that's also the 1.000 ABCD.
JA
jarek
Rep: 94
Posts: 3,474
Originally posted by jimkane
... Notice that's also the 1.000 ABCD.
It would have an awful 3-legged CD leg. Not for me...
JI
jimkane
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Posts: 33,089
Yes, but the CD leg ABCD would be a .618 ABCD, which I don't consider an ABCD. I'd see this as a final 'W4' 1.272 move of the CD leg, one where 'W2' didn't manifest. But, that's just my take.
JI
jimkane
Rep: 3,058
Posts: 33,089
And it may all be 'academic' anyways once they explode it up off this GZ...
JI
jimkane
Rep: 3,058
Posts: 33,089
Hopefully it breaks down after this initial bounce off the GZ, and the 1.000 ABCD also gives way... That would solve all these ugly structural issues. Plus I'm intraday short side bias, so that's what I'd prefer. Somehow I can't see them giving this up, but I can dream... I am ready for the long side to take over though, off this GZ.
