Getting us started. This should be quite a week.

Remember the 1-2 tick games (above or below). I think this is more likely to pop up hard on the break, as they are in frenzy mode now. But I have a lot of respect for this one tick shy move...

Gold takes 1700 with ease. Up about 45 now since the announcement.

Now we see with gold... And silver... And pretty much everything, as they all hit the 'Now we see' zones.

Here comes the new ES high...

Hit while that was posting...

19.00 hit. One tick from the lowest number I posted for my second level. Now we see.

Kane TD ABCD completing at 0.447 fibo. Point B also a Trader's Dream. Point C a little over 1.272 fibo.

Al Kamego

There's another burst in the ES, to fully hit the next level. Recall the higher timeframe level sits just on top of this level. So, anytime in here 'it' should happen, if 'it' is going to happen...

Anyone short gold there?

20.75, then showtime.

Originally posted by jimkane

On the way up I am watching 16.50-17.00, and 19.25-21.00. These are the short-term levels. Look at the levels I posted previously, too.

Originally posted by jimkane

There's another burst in the ES, to fully hit the next level. Recall the higher timeframe level sits just on top of this level. So, anytime in here 'it' should happen, if 'it' is going to happen...

rat, I'm not sure if I defined them in here or not, but the terms I use are in the AFTC book. I follow Miner's convention. I don't use 'extension' as a term at all. We all know what retracements are. 'Internal' means less than 100%, 'external' means greater than 100%. A price projection uses three points, like A, B, and C of an ABCD. It takes the move from points 1 and 2 and multiplies that by a Fib ratio and adds it to point 3, to get point 4. I also use expansion, which is a two point tool, and starts out like a price projection, using points 1 and 2, but after doing the ratio it adds it to point 2 instead of point 3. This is clearly explained in AFTC, with diagrams, so I refer you back to that book.

Originally posted by rat89

Jim, you once clarified the difference between projection and extension here....I can't find it, and I get mixed up in terms....could you point me to it again?