Just getting ready.

been working on my gann by doing my own work on forcast time....off the two marked pivots with red arrows....the rest of the lines were forcast to be time within one day....

So, why do I have this area in crude around 91, and a second level just below at 89.50? (I don't mean what do I have technically, I mean why is crude possibly signaling downside?) In reality it is likely just one area, the full width from 89.50-91.00. The 'best' lines come in on the upper end of the range. The curious thing is the 'best' time factor is in the first week of January. That would be quite a drop in a short period of time, given all the tension in the Gulf, Iran doing Straights of Hormuz war game exercises, etc. Down $10 in just over a week? Keep in mind, I don't put near as much weight as some do on these time factors, but it is one thing of many I watch.

Now, to continue the discussion. Crude has been going straight up. Up over 36% recently. Then an ABCD back, and straight up some more. Why even think it may be going down? It is at a super-super key area in here. That 100.23 should be it, or at the most 'retested', and that's it, if this area is to play out. Maybe it won't. If the market is to go up all week this week, crude should 'break out' to the upside. So much for this key area.

So far, I have an early entry trigger already triggering on this. It's a very early, very fine trigger, and hence much more prone to being a false start. The upside is the stop is smaller and the potential run longer, since one is in earlier. We'll see. If this does start to move down, keep an eye on that previous low area around 92.50-.75. If we do see some downside I'll try to post updates as price action gives me more to work with.

I started rereading Jim's MLFS. Wow. Great book!

Trader's Dream.

Al Kamego

So, I think crude will shoot for 101.45-.65 next. Perhaps later I will make some comments on the big upside explosion in crude on Iran comments.

Wow, barely got that posted and crude hits 101.51...

Crude 101.64... Now 101.70. If it breaches this area, it's gone, in my opinion.

Then I start looking at 106-110, and a nominal breach of that 114.83 high.

Give or take a handful of days, GOOG just set a 4 year new high today.

ES just coiling to punch up to another new HOD and high for the entire move... Coming soon I suspect.

Nope, just rolling in the range. They couldn't pop it up, so maybe they try the downside stops. Or maybe they just grind it back up. Don't know, and don't much care. Just hanging around to see how they close it, totally bored by this low volume junk.

Originally posted by jimkane

ES just coiling to punch up to another new HOD and high for the entire move... Coming soon I suspect.

thanks jim...