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.

Now I see big bearish ABCDs on many weekly charts: GOLD, SILVER, COPPER, PLATINUM and indexes like Germany, China and many more. It must be very significant for markets.

Here's the key set I have been watching the last few days. Note how this has helped guide my potential decisions. Notice the additional set that helped define today's low, and how the SL nailed it down. There is lots of other work to do, but this shows how the LOD and the move up, once again, were not that hard to create some premises about.







Chart created on QCharts, courtesy eSignal.

And note that it is now primed to move 'up and over' the set.

Crude 107.56... Ow.

Another new high for the move for crude. It's in frenzy mode now. In Euros Brent just hit new all-time highs. No, this will have no effect on the economy or on us 'little guys'. Nah.

Can someone show the overhead TL here in daily/weekly silver (SI #F)? Look at the bearish ABCD, against the much bigger bullish ABCD. Like I said in crude, this area here is super-critical, and if it takes it out, I think new highs are coming. It would imply to me they are going to do another super run up in commodities, and further destroy the dollar. We shall see. I hope no one in here is planning to rely on any retirement savings in dollars...

Get ready for an ES burst up and over that key set line. They want it bad.

Silver. I'm not planing trade on it

I wanted to show a basic TL, like this one.





Chart created on QCharts, courtesy eSignal.

Originally posted by jimkane

Can someone show the overhead TL here in daily/weekly silver (SI #F)? Look at the bearish ABCD, against the much bigger bullish ABCD. Like I said in crude, this area here is super-critical, and if it takes it out, I think new highs are coming. It would imply to me they are going to do another super run up in commodities, and further destroy the dollar. We shall see. I hope no one in here is planning to rely on any retirement savings in dollars...

And in they come, like clockwork. Now it's up to the key line area. Let's see if they have anything beyond bluster.

Originally posted by jimkane

Get ready for an ES burst up and over that key set line. They want it bad.