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.

Boy, do they want to launch this. If so, they would likely really want to get to the GLOBEX high. Big decision to be made here.

Gold is going nuts. We are soooooooo dead....

Watch 56.25-57.25 here very closely. It's also got a ML from a 1-min red line green set, as jarek used to point out all the time

A few observations on this key area that I pointed out where they'd have to prove themselves. If one did short off this spot (that was my preference):

a) One had to have a lot of confidence in the area

b) One had to have a thick skin to wait it out and be faithful to the stop

c) One had better be very cautious in here at this 55.75 area, because this may well be done here, with no intention to set a new LOD

If it did set a new LOD, a big (huge) if, I'm looking around 50.25-51.25ish. I think it's most likely done there. But, let's see what it gives us.

C'mon, let it go... If you do the work you'll see exactly why I think this is such a key area, and why I put it on the table that it may be done here. And if this gives way, well, a GZ on the way, then my new LOD area and a big smile on my face. Not that I'm not smiling already.

Careful, a 1.272-like move at a SL, and a snap reversal on the 1-min. Danger, Will Robinson.

Watch the 1-min TD (or EXP if it goes up more) for big clues. It doesn't seem to want to go down... I think that's it.

If that's it, they are going to be very hungry to see that 63-64 by the close, or shortly after, I suspect.

But the bears may not be done yet, off this little ABCD...