Getting us started. This should be quite a week.

they're everywhere.....they even go sideways

ES 3.25 point range for well over three hours now. Very exciting stuff.

This big ABCD looks like it will work, but on GLOBEX it has pretty ABCD in CD leg what should be deal breaker.

Jim, is this ABCD ok? Should we take everything what is setup up with a line and gives trigger on such strong trend up?

Watch the stops coming up... Watch the reaction when it gets them. Recall the previous patterns I mentioned. Clue time.

This is a bit complex. There are two places we could look at for C points for this possible CD leg ABCD. The first one is at a .382, hence I don't see that as an ABCD, and the second is at a .486, my cutoff point, but then it is less than a .786 ABCD. This, too, is my cutoff for an ABCD price projection (in general), as mentioned in my ABCD book. But, when I look at that layout, and then the non-impulsive look to its CD leg, I just don't see either layout as a clean ABCD. So, in this case I would not see the CD leg potential ABCD as clean enough to worry me if everything else is in place. The ABCD should be clean and clear. It's subjective and a matter of experience, and this is my interpretation in this case.

Originally posted by sirios

This big ABCD looks like it will work, but on GLOBEX it has pretty ABCD in CD leg what should be deal breaker.

Jim, is this ABCD ok? Should we take everything what is setup with a line and gives trigger on such strong trend up?

Stops any second now...

There it is! Now, 1 or 2-tick game? Or sustain? Let's see.

I'm hoping sustain, since I'm strong long-side bias (short-term, intraday) off the setup from the AM, and this recent ABCD that started this little leg. But at two ticks over here they may kill it. I think up is more likely, but I always watch the game, especially when the volatility is so low in here.

Coming off that 2-tick new high...

1-min TL...

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?