The debt limit issue should be resolved soon.
Be ready.

So, it did indeed roll over right off that spot (which was the bigger bearish ABCD). It didn't do my primary scenario and keep rising in a 'W3'. That's why I commented about having alternate scenarios and respecting price action. I'm rather surprised they did a 1.128 stop run and it turned out to be a sell the news event. But, as tx mentions, you all know I'm loving this big time.

Originally posted by jimkane

Okay, I really don't see it, but if the ES was going to roll over, I could see it happening from here. Maybe just a little checkback...

Now, the craziest thing I've ever seen since I started trading is the Swissie right now. 1.30! (I'm rounding). I never, ever would have thought it possible to reach such a level. I don't know how Switzerland is selling a single product to the US (or Europe). Is it headed for 2? 3? Is there a limit? The Swissie is so small, I can see it going to 5, 10, if big money keeps moving.

Checking in on roofer's 886 gap trade on DIA.
Today's open went up to near the 78% from last swing high.
Then it reversed and made for the lml which hit at the 161 BC retrace. (There is a lml on the cyan set too.)
The question is: will it go lower to the 88% line, which could also come in on that lml?




Here's how it looks on the 5 min chart. The yellow set matches with the larger brown on 30 min.

TNA is putting up a fight. It got to .886 of Friday's low. I have different line sets on 30 and 60 so I'm showing both.

tna 30 min shows the 88% line which overlapped the ab leg at 146.



tna 60 min shows the creep along the black set. If/when it breaks, will the gray set slow the downside.

hi guys....dropped by for a little....

Not sure if I should even post my scalping intraday levels here.

77.50-.75

78.75-79.25

82.00-.25

Hey, rat.

Originally posted by rat89

hi guys....dropped by for a little....

Click image for original size

First level hit. Now I watch. I suspect higher.

Originally posted by jimkane

Not sure if I should even post my scalping intraday levels here.

77.50-.75

78.75-79.25

82.00-.25

Watch the 5-min SL here.

Higher it is, as suspected. Next level hit, off a SL reaction pullback. Now I watch.

Originally posted by jimkane

First level hit. Now I watch. I suspect higher.

Originally posted by jimkane

Not sure if I should even post my scalping intraday levels here.

77.50-.75

78.75-79.25

82.00-.25

Originally posted by tx_ches

Great job, Al. You caught a lot more things. You are good at drawing the SL. I particularly missed 2 even after drawing 1 and 3. You also caught many more .886. I particularly like your 6.

I thought this was a great exercise on how well the tools can work near a turn as joed has said. For myself, it also showed me that I had made some progress with the tools since the last time roofer gave a list of charts to try them on.

For the record, I did try Jim's two recent detailed postings on action, levels, and turns but gave up in frustration. I never know with his stuff if he means 240 min or 3 min.

Thanks, tx. I spend probably too much time looking at the smaller details and not enough scoping out the "bigger picture," like the turquoise line 4. Kane TD ABCD. That is a good one. I looked at your work and picked it up right away. I do not know if I would have seen it by myself. I need to spend more time looking at larger as well as smaller timeframes for larger Kane ABCDs and structure. Many times I have been mentally involved in a smaller scale pattern, and missed an easy, larger Kane ABCD. This work requires a lot of expertise. Please keep up the good work.

Thanks, roofer, for the invitation for us to try our hand at your techniques on the SLV chart. I am sure there are a large number of things that I missed.

Thanks, Jim, for hosting this forum and sharing your thoughts. There is surely a lot of your work that I don't "get," but I am working on it.

Good Trading,

Al Kamego