It is now one way or the other IMO:

so many abcd's completing across my traders!....either they will break in 3's or the market will turn down once again....

This is the reason why Crude found support at this area:

... similarly Gold:



Failure of those areas could be concurrent with Geo's bearish ABCDs playing out across the board

DBS and Kane EXP ABCD completing at 0.382 fibo. Nice. 1 min GLOBEX and a tick chart.
Al Kamego

Al, I don't understand how you are trading your DBS. Wouldn't the goal be the ML which did not get met either yesterday or today? Are you trading the DBS as a failure?

Just seeking to understand what you are showing on the chart.

Originally posted by albert

DBS and Kane EXP ABCD completing at 0.382 fibo. Nice. 1 min GLOBEX and a tick chart.
Al Kamego

Originally posted by tx_ches

Al, I don't understand how you are trading your DBS. Wouldn't the goal be the ML which did not get met either yesterday or today? Are you trading the DBS as a failure?

Just seeking to understand what you are showing on the chart.

Originally posted by albert

DBS and Kane EXP ABCD completing at 0.382 fibo. Nice. 1 min GLOBEX and a tick chart.
Al Kamego

Thanks, tx, for the excellent question and comments. Please let me try to explain. I do not trade everything I post, and I am still "simulation" trading the SPY, using the ES contract as a "proxy," on pretty small timeframes. I have the highest respect for roofer's techniques and statistics, they are some of the best I have ever seen. In this example, I simulation traded the Kane ABCD only on the 1 min GLOBEX chart. The DBS on the one minute was based on Kane ABCD points A and C. I am trying to improve my “trade management” by staying in successful trades longer. I generally exit successful trades way too quickly.

Anyway, I also try to never trade against a Kane ABCD, especially one that completes at a 0.382 fibo.

I look at “spike lines” or “simple lines” based on the Kane ABCD points and see them as possible S/R. to price progress. Price was looking strong when it completed the DBS, reacted to it (on the 1 min), and headed back up from near the DBS-based 25% division line/21 SMA confluence. For my own trading only, I am thinking DBSs are vulnerable to failure near the 25% division line. I have seen it a few times. Price dropped from the dbs endpoint to the 25% division line / 21 SMA confluence, acted strongly, so I stayed in the trade. I hope this is not too confusing. My goal is to stick longer with successful Kane ABCD trades, thru better trade management.

BTW, the dbs on the 1 minute chart is not the same as the dbs on the 233 tick chart, they are different. I thought that was worth a comparison. Probably too confusing, though. One last thing, 1 minute chart price drop to the DBS-based 25% division line/21 SMA confluence shows up on the 233 tick chart as a “zoom and retest” of the upper ML //. Pretty neat, I thought, after the smoke had cleared.

I hope this helps.

Good Trading,

Al Kamego

Now we see...


Posted-06/27/2011 : 14:40:01:

Originally posted by jimkane

Watching 82 and 90, appx., next, if this can rise over this little area here at the obvious TL, which is hitting with other lines.

Originally posted by jarek

Speaking of abcds in CD legs...

Click image for original size

Originally posted by roofer

so many abcd's completing across my traders!....either they will break in 3's or the market will turn down once again....

Notice how the ES, on a 15-min all-sessions, sure looks like a 5-wave off that 57 low...

My gut says this is not going to go down any time soon. But, the area is clear, and I'll see what it does...

Notice the 1-min bullish ABCD. A launch for one last 1.272 or so leg, or just another big leg up?