The week starts out 'interesting'. Gold is only a few cents from the 'magical' $1600 level. I think the only magical level is $10,000, and the musings on when that gets taken out. If it does, and the moves were proportional, that prices gas at the pump around $30/gal and crude around $400. Imagine food prices then. The Swissie is exploding, and the EUR/CHF just set another new record low, as parity is now the talk. And this has our futures down a whopping 1.75 points. Wow, pretty scary, the ES down 1.75 points.

5¢ is all you get

Originally posted by tx_ches

I don't know but I don't see a gap left on the open bar today.

Originally posted by rat89

.886 on that pop....do they mean it??

..short AEM..886 ON GAP ON 5 AT GEO......looking to exit TSO at geo...... QQQ..ABCD @382... IN AND GONE....uco trading the geo with predefined setups insanely....rat i am not sure why you would look to trade opening .886 against the odds of the abcd@382

HOD (so far) 43.50. Went right to the highest area I posted... Much higher areas coming, I suspect...

Originally posted by jimkane

Now, if (sigh...when...) this keeps rising, my next levels are:

33.50

35.75-36.75 (the 'full' grouping is really 35.75-38.25)

42-42.75

Keep an eye on a possible bearish ABCD near the current high. I doubt this layout would play out, but it's worth keeping an eye on.

I'm not saying higher without a pullback first, though.

Let me be more clear. It may continue to rise from here without a pullback, but my expectation, when looking for perhaps much higher prices, is the usual rise, check back, rise, check back, etc.

roofer.....looking at the 1.128 at the top of the box on q's....I know the abcd should push it through and higher....not sure it's valid, but pop up to 5925 was right at .886....

I thought the opening bar had to leave a gap with the prior day closing bar?
My chart marks the open with red arrow.
I went down to 1 minute see the gap on it. Is that what I should have used?

Originally posted by rat89

5¢ is all you get

Q's 5 minute open.

Q's 1 minute open.

beautiful....I was so busy looking the other way that I missed the .382

I still can't figure out why, when I draw the same set that you have on qqq, it lines up slightly differently. is there something about your sc settings that I am not getting right? I am in non log scale....I've seen this once or twice before too

Zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz.

I guess what I am saying is that not every time price hits a line, or lines confluence and price hits them, it's an area that produces a potential trading edge. With experience one can make an attempt at filtering out these areas that just don't have the right look to them. I'm not really talking about subtle, almost invisible variations here, I'm talking about 'obviously has potential', and 'obviously looks totally wrong'. This is frequently something that can be seen by eye real easily, but is very, very hard to program into a computer. I wish I had a chart example off hand for you, but I don't.

Originally posted by tx_ches

Jim, what do you mean when you say "our eyes would say the geometry is not good." How can geometry be bad?

I'm not convinced the algo's are using the same median lines as roofer all the time. On the QQQ's, I drew 2 other sets before I saw roofer's set and even after I drew another set. So all together there were 4 sets with lines going into his areas. The algos could easily have programmed in 2 of them without using the more minor swing low that roofer used.

How heavily do you think the algos rely on measured moves? It seems like I see a lot of median line sets that capture a measured move. I wonder if that is what the algos key on when it is looking like they key on a median line set?