I'm starting week with my thought about learning of trading.

I found that it is impossible to get all knowledge contained in Jim's books when I read it few times. I have to get a lot of practice, face the problems in all area (eg. context, trade management, ML) and start looking for solutions in Jim's books by reading it again. And that's what I think: all solutions are there. I just have to implement it into my behavior and trading plan.

This a lot of material and it is sometimes very difficult mentally (like trading against trend on trading timeframe) that's why process of learning must be repeated many times until aim will be achieved.

I can't imagine how Jim could learn trading without his books It must be incredibility more difficult and long process then we are faced with.

I agree, that the degree of that BC is so small it may not be an ABCD, in practicality. It is worth noting, but not enough to stop me if I liked the setup.

Originally posted by sirios

BC was so small that I did't consider CD as ABCD. Thanks. I have to be more watchful.

Originally posted by jimkane

Note that this ABCD here (which it 'sees' to the tick) has an ABCD in its CD leg. That's a potential red flag.

Many times I have found AB legs of ABCD's, and 'W1's', have three-legged structures, and I find that okay. The issue here is: is one bullish in here right now? The pattern is the way in, it doesn't tell one whether to be bullish or not.

Originally posted by sirios

I see ABCD in potential W1 of trigger for our ABCD. Is it red flag for trigger ?

So, what do they want to do here so that they can best set up the usual Sunday night GLOBEX/Monday up thing? Assuming that pattern repeats...

?

Originally posted by jimkane

So, what do they want to do here so that they can best set up the usual Sunday night GLOBEX/Monday up thing? Assuming that pattern repeats...

It looks something is changing.

Five minutes left until cash close, and no run up. I'm anxious to see what it does after cash closes (run it up then?). Otherwise, the assumptions would be they have dropped it low enough to gap it up from here and start the run on Sunday, or they plan to drop it lower before they start the run. Of course the pattern could not repeat this Sunday, but I think that's low odds. Just pondering the possible scenarios (since they aren't as obvious today, without that run into the close), seeing how they line up with the chartwork.

The 'talk' on crude is $135-$200. Looks like they are prepping us for a new speculative high. Hundreds of billions milked from the populace. Same old, same old, in other words. Same likely with food prices, and shipping, and consumer goods, and so on. Yet inflation, as defined by the FED and the gov, will remain low, of course.

Interesting if crude doubles from here, given that in Euros Brent is at an all-time high. Imagine the impact on Europe of doubling crude from all-time highs.

Thank you for all lessons in this week Jim.

Yes, thank you Jim for all your teaching and help.

Al Kamego