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

I'm sure some wonder why, if I were long side bias intraday (for scalp/intraday swing plays), I would celebrate the long run ending. Wouldn't I 'hope' for it to go on and on and on? Actually, no. I am happy when a play ends, if it is at an area I have, and in accordance with my read and scenario(s). I am more concerned with the long-term applicability of my methodology than I am with any given play being an outlier and blowing out all areas. Something for everyone to ponder.

Oh, I like this action. Watch the ABCD area here. I'd love that to give way. I'm still very wary they'll come back in hard for this, but I'm hopeful the sellers may come back...

Launching off the ABCD...

It doesn't get any more clear than that. Crystal should be so clear.

Now, as an obligatory comment, watch in case this is a last push and done. Not likely, but I always watch for it in case.

Okay, 88 next.

I expect at most a tiny pullback, but watch this 1.460 ext ret off the ABCD. Like I said, it may be a last push and done. I can't see anything but 'up', but I'm watching.

Interesting, huh?

80.25 here is a bullish TD ABCD. Let's watch this.

And look at that. Tests the previous low from the ABCD, and they go nuts on it.

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