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.

Great trade, as usual. I think you have the highest winning percentage of any trader I've known. Given your very high reward/risk, that is really saying something. Curious how after the drop right to your target silver pretty much made the entire move right back, up and over that upper //.

Originally posted by roofer

Click image for original size

And gold hits 1918 (rounded). I wonder how long until 2000? The most interesting thing to me is that I hear two words, on TV and in blogs, over and over and over with respect to gold. Those two words are: 'bubble' and 'unsustainable'. From that I take only one thing: gold is likely going a lot higher. Just my two cents.

It is way overdue for a very steep correction, but that will change nothing. The only thing I think that can take gold down in any meaningful way is a forced 'margin call' hedge fund deleveraging. That won't change the trend, I don't think, only how deep the correction is, when it comes. And if there is a deleveraging, the S&P should go down commensurate with that. And that means a monster drop. Just my two cents.

jim-since last monday i have had one of the most extraordinary runs.... by focusing on the .886 on gap on 5 at geo... hit it 4 more times today and made money in all trades...i have no illusions.. just as i fell from the sky and am in bad shape... i will fall off my high horse and get my butt kicked trading...so just let me enjoy myself...

nothing i did to day has not been shown here endlessly......i marked my charts up last night... all my charts... laid out the possibilities,,,, and as the open neared....saw i better have my index orders sitting in the market...

and when i saw this... i said.... i'll try a short if AND ONLY IF... .886 on gap on 5 @geo.. really today was no big deal... i am just trying to catch rides on the computers actions... i leave the big thinking to others.

Nice SL-based ML Set. Price probed down almost to GZ, reversed up to ML Upper // - 21 SMA confluence at 0.382 fibo, dropped again thru GZ, 200 SMA in GZ providing Support then Resistance, more ML Upper // touches. Very nice opening.

Al Kamego

DBS and price strength.

Al Kamego

DBS in GLD. 0.886 on Gap on 5, along with 1.272 and DBS.

Al Kamego

Trivia question. When was the last time the SPY didn't have a gap open that wasn't closed within 5 minutes? In other words, a day when you couldn't be looking for an .886 gap on 5 potential trade? Don't answer this by looking at your charts, anyone can do that. Post your 'guess'. Then after a few guesses someone can post an answer.

Careful in here at this .447, which is also a bearish ABCD on say a 180-min chart. I don't like the placement/layout for this to do much, but it may well react significantly on the intraday.

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 //