Darn, I was watching the ES, it opened and dropped right to a line I was watching, to the tick, and started up. I got a buy trigger. I decided not to post on this. My motivation wanes from time to time, as I get so little interaction on all my posts. Now the ES is up almost 20 off the low, much more than I expected by now. It's really getting ramped hard. Oh, well, I wish I had posted it as it was happening. I used a really cool line technique to get my line. I had it on there shortly after Friday morning got started.

I don't know if this means anything, but GLD is now the world's biggest ETF, surpassing SPY...

GZ at TL coming up...

And right up it goes off that.

Notice it's also a 'W2' ABCD. Now let's see if it can sustain. I'm not completely convinced on that.

Okay, I think it got itself a bit cleared out there, and may be able to take off. We'll see.

Well look at that. The second I post that, based on a look that it was about to take off, and they kill it (and then snap it right back...). Mostly this is just 1-min chart chop, though, for the past several hours. I'm just watching to keep busy...

Okay, that's it for me. As I suspected, this wasn't able to sustain. I am rather surprised they took it down into the cash close, to take out that GZ. But, not a surprise, once it got two ticks below the LOD, it started to bounce. Same old game playing. They are just chopping it around, probing for stops and suckers.

It does look like it is about to take another major leg down on the higher timeframe, but they love to make it look that way before they go the other way hard, so I'm suspicious of that look. I only use it, anyway, when it factors into predefined setups I'm already looking at. By itself I don't even think about it for one full second.

Gold takes out $1900...

Okay, not trying to be overly critical, just making sure I understand what you are saying.

Originally posted by MarcinO

Of course I meant KZ. I'm sorry if I confused anybody.
I'm quite bussy at work nowadays and I can hardly post charts, which resulted in an obvious mistake.

Originally posted by jimkane

Marcin, do you mean KZ?

Originally posted by MarcinO

Gold stucked a bit in the GZ reacting off upper //