I sure wish someone else would step up and start these weekly topics...

Originally posted by jimkane

Be very careful with GLL, it is very illiquid, especially on low timeframes intraday.

Thanks, Jim.

Al Kamego

Careful here. They might actually sell this...

Okay, cool, that was just a snap fake to set everyone up before they did the actual burst up. Tricky little devils, aren't they?

Mostly, though, it's just low volume chop. It will be interesting to see what they do after cash, but otherwise, who cares...

Jim, thank you for all exhaustive answers today.
It's very good that you remind us about importance of big picture perspective of the markets and its elements: higher time frames, reaction to key economic data and political events, correlations etc.
As Sirios wrote, establishing correct bias is really difficult.

42.50 hit... They get it by two ticks and then let it come in (have we seen that before?), three points so far. Now we see if they were just gunning stops, or if they are going to keep grinding it up. Jim's famous expression: "Now we see."

Originally posted by jimkane

They want that 42 high soooooooooooo bad.

Today was the lowest non-holiday volume in over a decade...

You're welcome, Marcin.

Originally posted by MarcinO

Jim, thank you for all exhaustive answers today.
It's very good that you remind us about importance of big picture perspective of the markets and its elements: higher time frames, reaction to key economic data and political events, correlations etc.
As Sirios wrote, establishing correct bias is really difficult.

Now we see...

Originally posted by jimkane

Next stop if they get it may be around 46.50-47.50 or so.

I think Jim's comments about context vs setups are very valuable, and a great explanation for how one can find what appear to be perfectly good setups, ones that have worked before, that fizzle or just blow up....because they are within a context. You could extrapolate that it is the context that governs the probability of the setup....or that the setup is merely the trigger for a trade within the context.

Post like this has incredible value for my learning process. Thank you Jim.

I've got many questions how to act in few areas which are shown on the chart and I found are critical in early stage of trade, but I know you can't answer it on the forum. I have ideas and experiment with it and I'm very interested in opinion about it.

Originally posted by jimkane

Okay, here's a chart showing some of my posts, marked at the times, as best as I could do it, when I posted them. Also check out the post I made at 15:53:40. I couldn't find the room to squeeze that one on the chart. Everything I mentioned was based on the methodology. Look at some of the other posts, like the one about the lines coming in. Look at that EXP ABCD. Study the higher timeframes and see why I thought this may go up (other than it was Friday close and time to prep for Sunday night GLOBEX/Monday).

No matter how many cool areas lie below, or how much I want this to sell, 'they' want it up, and the defense of the GZ was a clear signal. Note my post before I started this sequence, about rigorously defending the LOD via the GZ. It wasn't my first mention of that. Clues. Technical factors. The methodology. What roofer likes to call 'the tools'. Now, do some work. Study what led up to what I have shown here.

Click image for original size

Chart created on QCharts, courtesy eSignal.