MyPivots
    JA
    jarek
    Rep: 94
    Posts: 3,474
    5
    ES approached major downsloping ML on a daily chart:

    Click image for original size

    Acceleration, bounce or coil now? In case of the first, our target area is just 4-5% away. Exactly the same as in case of $RUT for the move off its head and shoulders pattern confluent with the green set lower ML:

    Click image for original size
    JI
    jimkane
    Rep: 3,058
    Posts: 33,089
    2
    ABCD and key lines at 68 and change. It seems like the chances of it holding and not being a 'W3' are pretty much zero. Just a hunch.
    JI
    jimkane
    Rep: 3,058
    Posts: 33,089
    2
    This is acting strange. It is looking like it could roll off this bearish 4PT. That has me wondering if that's just a trap. But, for now, it's just chopping like crazy in indecision mode. Very odd.
    JI
    jimkane
    Rep: 3,058
    Posts: 33,089
    0
    I knew it was a trap...


    Originally posted by jimkane

    This is acting strange. It is looking like it could roll off this bearish 4PT. That has me wondering if that's just a trap. But, for now, it's just chopping like crazy in indecision mode. Very odd.
    JI
    jimkane
    Rep: 3,058
    Posts: 33,089
    1
    It's nice to be deadly accurate on read after read...



    Originally posted by jimkane

    ABCD and key lines at 68 and change. It seems like the chances of it holding and not being a 'W3' are pretty much zero. Just a hunch.
    JI
    jimkane
    Rep: 3,058
    Posts: 33,089
    1
    Watching 70.75-71.25 and 73.25-.75 next.
    JI
    jimkane
    Rep: 3,058
    Posts: 33,089
    0
    Roll now into the close???
    JI
    jimkane
    Rep: 3,058
    Posts: 33,089
    2
    Yesiree. Mark me up for another great read.



    Originally posted by jimkane

    Roll now into the close???
    JI
    jimkane
    Rep: 3,058
    Posts: 33,089
    3
    Be watchful that is a climax. 1-min volume at area. Now we see what timeframe these sellers are from.
    RA
    rat89
    Rep: 0
    Posts: 7,015
    2
    this is where we find out if this is a retest or something else completely....maybe we gap open monday to your area...
    Click image for original size
    JI
    jimkane
    Rep: 3,058
    Posts: 33,089
    4
    It sure was. The sellers were very short-term, and up like a rocker it goes. Amazing. So, it didn't sell into the close, as I first suspected, they defended it once again. Picking up on that sell climax signal made all the difference in thinking. See how I don't marry any scenario, but switch concepts the second price action gives me a clue? See why I talk about clues so much?


    Originally posted by jimkane

    Be watchful that is a climax. 1-min volume at area. Now we see what timeframe these sellers are from.
    JI
    jimkane
    Rep: 3,058
    Posts: 33,089
    0
    Okay, that's it for me. I probably won't post again until the Sunday night session.