I tried to find Jim's missing upsloping lines coming through the current area and here's what I've come up with:



I'm not sure if these are the ones, but if not, that would mean there are more than 4 important lines, which would only add significance to this area

Come back! We don't have to go any further

886 ??

if jarek is right.....886 on gap on 5

the creep is back....thinly disguised as a series of 886 hits.....mob

TNA 3 minute.
Mini-DBS, red line, green set.
I was happily long this morning in TNA based on the Exp abcd in spy - 127 at C and 127 at D based on gap down open. TNA also had 127 C but only 100 at D.
Then it made what looked like another exp abcd - a pullback then a C at 112 and what looked like a D at 112 - marked on chart. So I was sitting pretty I thought!

But then it hit the 127 which formed the 112,127 red line. And was the 88.6 lower high from yesterday. I'm thinking mini-DBS that stops at ML. But it dropped all the way to lml and overshot it until it got to the 68.5 retrace of entire move up and the 146 of the BC leg.

I took a much smaller profit than planned.

TNA 3 minute.
The action this morning could be relabeled as a 4PT bull.



Question: is the "area of concern" on alternate abcd's measured using the longest leg which in this case is the AB leg showing a retrace at the 127% area or is it measured using the CD leg which is at 161%. In this case, they are nearly the same but sometimes they are not. For zigzags, I use the entire A to D leg but for alternates I don't know what to do.

The problem here, as I see it, is that the TNA is a proxy for the S&P, which is best observed on the 24-hour trading session via the ES, in my experience. If one looks at the ES, it was clearly a 5-wave up move off the GLOBEX low. The move highlighted was the 'W4'. It pulled back one tick below the .447, and was exactly the same price pullback as the 'W2', to the tick. The key line was just a sliver below this level. The high of 'W1' was right in there (intraday I am not strict in that the low of 'W4' can trade a few ticks into 'W1'). It would be expected that it would pull back to the level that it did.

So, if I were to play this I'd have to have my stop below this level, or I'd take it off the second it started to fade on the rush up. In between is not a technically sensible place for a stop, I feel. Bottom line, there is no way I could trade the TNA, SSO, whatever, and not take this information into account. It's critical information that is lost with RTH proxies. Just some thoughts.

Originally posted by tx_ches

TNA 3 minute.
Mini-DBS, red line, green set.
I was happily long this morning in TNA based on the Exp abcd in spy - 127 at C and 127 at D based on gap down open. TNA also had 127 C but only 100 at D.
Then it made what looked like another exp abcd - a pullback then a C at 112 and what looked like a D at 112 - marked on chart. So I was sitting pretty I thought!

But then it hit the 127 which formed the 112,127 red line. And was the 88.6 lower high from yesterday. I'm thinking mini-DBS that stops at ML. But it dropped all the way to lml and overshot it until it got to the 68.5 retrace of entire move up and the 146 of the BC leg.

I took a much smaller profit than planned.

Click image for original size

For me to find an area of concern I need a confluence, so I use ext ret with key set lines, lines from the higher timeframes, and some other techniques. Then I see where things come together, where they shake out, so to speak. For ext ret on non-zigzags I just go off the 'long' leg, as you mentioned. It doesn't hurt to do an ext off the short leg on the ones that allow it (you can't do this on an EXP, for example, because the following price action drops below the second anchor point, requiring removal of the ret), but it would only be to see if there is harmonicity with other things i.e. a supporting technique.

Originally posted by tx_ches

TNA 3 minute.
The action this morning could be relabeled as a 4PT bull.

Click image for original size

Question: is the "area of concern" on alternate abcd's measured using the longest leg which in this case is the AB leg showing a retrace at the 127% area or is it measured using the CD leg which is at 161%. In this case, they are nearly the same but sometimes they are not. For zigzags, I use the entire A to D leg but for alternates I don't know what to do.

Looks like it wanted this upper Schiff ML really badly...

I have no problem if you post in the Kane public area. If we get any responses at all that are even slightly critical I'm going to delete them, no response. I am not going to address posts, as I am not going to get involved in that. So, expect responses from other area public 'regulars' to get deleted. I may also post a note saying this is 'my' area, and it is not for questioning the posts, it is for observing the posts, and replies that are critical will be deleted. Just letting you know ahead of time, roofer, what I'll be doing.

As far as viewing posts, I believe you can't see charts unless you register. You can read the text, but the charts won't show. Registration is pretty easy, though.

Originally posted by roofer

it has been so long.. i have 2 questions. can anyone just hit my pivots and view the public areas.. or do they have to join? and... jim asked us not to post in public areas... i have been talking to different group of traders.... would it be ok if i did presentation in kane public area for them to see? that would be easiest for me... and who knows .. we might get some new blood.