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

Could this mess the most people up by just selling hard right through the area? Since I am wildly bearish intermediate-term, I would say this is unlikely, for no other reason than it would make me nothing short of ecstatic. Since that so rarely happens for me, I'd have to look for another scenario.

Notice on this selling gold just took another big leg up, and the Swissie is back to pushing that all-time high.

And notice that flat, which really looked like a trap to me, was exactly as it appeared, the perfect sell spot. This is what they can do to one's head when they incessantly game the traders over the course of more than two years.

So, they'll close cash right on the most critical spot in as long as I can remember? What a shock.

Look at the move in wheat on say a 15-min. Now, that's unreal.

Sold right to the after-cash close. Amazing.

Gold hits 1661.90...

Another new all-time high in gold and the Swissie. ES still selling, albeit just a little.

what is remarkable in the gld stocks, after all the recent selling, is how many resell signals triggered today.

Now that is amazing.

Originally posted by roofer

what is remarkable in the gld stocks, after all the recent selling, is how many resell signals triggered today.

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