Let's see if this works....never tried to start a new topic...

having bounced off the .886 friday, will it aim into the area of interest up at the .886 of last week's high, or into the box at 1.128 - 1.27, and what will it do up there?

There is some symmetry in that both blue arrows are at .886....ultimately you might expect a move that mirrors the mid march - may move, but without a significant pullback into an abcd, which we haven't seen yet?

I think everyone agrees 1311 (plus or minus the usual tolerance) is 'the area'. If it can't bounce there, then it may 'W3' accelerate to the downside. I'll hope for that 'W3'...

1313.50 here is in the area. Keep in mind this is a broader area than one I may mention for intraday trading, since it comes from the much higher timeframe. So, 1.128 ABCD at 1314, 1.128 ext ret last move, right in a bigger KZ, this is it in here. Now we see.

Understand, I'm not saying this may not roll down deeper into the area (or fail altogether), only that I must be ready off this 1313.50 bounce, as it is well into the area now, and that may be it (I'm still really 'hoping' the failure scenario prevails...).

Gold sets nominal new all-time highs in pounds and Euros today. Not too far away in USD, either...

was that 1.128 it for now?

almost .886

It's acting like 1313.50 is going to be it.

Hmmmm, they don't like what da speaker o' da house has to say on TV. Started to weaken right off that first.447.

It's not likely to happen, but we are setting up for a perfect storm collapse, between Italy, Spain, Greece (Greece could still be the trigger, for example I heard 40% of our money market is in European exposed bank issues, which are greatly exposed to Greece), and our debt ceiling game, this thing could unravel out of control at any second. I heard a bank run in the U.S. would drop the dollar 90%. In other words, you get 10 cents on the dollar back ( http://www.zerohedge.com/article/what-american-bank-run-would-look ).

Funny how fast people have forgotten about Portugal and Belgium (not to mention Ireland). They were all the rage not too long ago. What a mess. It's all going to come down...

Was that the intraday higher low retest there?

roofer,

I am very sad to hear about your recent misfortune. I will keep you in my prayers. I pray you have a complete recovery and return to your full strength and health. God bless you.

Good Trading, Al Kamego