Okay, I'm still trying to get my footing here with this new format. I'm not sure where I'm going yet. We'll see...

One thing I am noticing, and it is quite interesting, is that every time this goes to the range top or bottom, they really, really make it look like it is going to break that way, that time. And then they snap it back. This is the most I have ever seen it look that way at the range extremes. They are really playing games with this. Like they did during the grind trend this AM. A very odd day, and very curious behavior here.

I know I said I wasn't going to post any more, but this look so much like it is about to break down, it's overwhelming. I just want to post that.

Now, this was what I was thinking awhile back, they can't bring it up, the Jaws music, etc. But, is this just the stop sweep I mentioned, and now up, or no?

Two ticks below the LOD, now a huge snap up? Probably, but I just don't care. This action has me completely not trying to read it any more at all...

Well, let me summarize. If you sense that I am frustrated, you're right. But not with the trading potential, just the posting. I'm trying to come up with a style, a way to make this section as useful as I can. What little ongoing feedback I have gotten has been extremely positive, and the number of reads on this thread is quite high. So, I'm trying to figure out how to best do this, given that no one else responded despite my pleas.

Here's the overview from a trading perspective first. This gets to my highest very short-term level. I mention it's a very awesome confluence. I also mentioned I was hoping it would jump a degree or two and do a bigger bounce. I listed areas if it could do that, but I suspected it couldn't. Recall back to my recent past explanations. I started talking about taking short shots at various high points at areas, as I was looking at long legs on the way up. There are just certain areas and I can't see not looking for short positioning off them, because it's hard to know which one it will use for the real move.

Part of this is because there isn't an ABCD forming. The ABCD defines the area. Without that, which area? So, my approach is what I call 'probing'. Shots can be taken, with the idea that they may not play out. Using good reading skills one should be able to get off that without a full stop out, I feel. I call it probing mostly because without an ABCD to define an area, how do you know which great confluence it will be in the end? You don't. So, I look to 'probe' the situation. I also 'probe' other areas from time to time, just to be positioned 'in case'.

So, it hits the last very short-term area today. That is a shorting opportunity in my opinion. I want higher, I hope for higher, but can I look to pass this spot up in that hope? I think no. If I have a very strong feeling it is simply going up to the next degree, I'd try to be positioned long for that, and then look to get off that and get short upon appropriate action in that PTA. But when it is very weak and very well may not jump degrees and go up more, I have to be thinking about this extended very short-term area.

Now, given that, let's say the play is short off that area. All that happened after that is just junk. Recall how I mentioned in an earlier post on the higher timeframe stuff that the top may be in, and if so, we may have just cleared 'all that junk' that I like to call a 'chop 'W2''. It's not a 'W2' in any strict Elliott sense, just by my definition. I call anything that is a 'retest' after a first push a 'W2'. It may be structured nicely, it may all be junk. I give a great analogy (I think) about an old math professor of mine and 'all that junk' that my mentor students should remember.

So, all that HC^2 I was trying to assess, in reality I could care less about it all. It's just junk I'd need to sit through, and I mostly turn a blind eye to it. I was just bored, and seeing some things they were doing, and thought I could provide some insight on reading price action. Mostly, though, I think it wasn't very useful, and perhaps distracting from the main mission (both the trading mission and the posting mission). It's just not so easy to know what to post, especially since one of my goals is to be completely spontaneous in real time, and just to 'think out loud'. Try it some time and you'll see...

So, bottom line, this thing did a ton of 'W2' junk and then gave the move down I wanted. It hit the 1.618 of the pullback, as much as I could realistically ask of it. It was just, as I frequently say, a very ugly trade. Let's wrap this up with what I said for the downside:

"If this ABCD gives way (like it can hold...) I'm watching the GZ at 78.00-.75. The next level is 75.25-76.50, but I think it will go to the next level at around 73-74 if it gets going. It also stands a chance of a total flush if it even goes down there, and it breaks a nice pattern I have, so a flush may be really likely. Last chance for the bulls, and they've got nothing so far."

The low was 72.50, right in the lowest very short-term area. It went to the highest very short-term area for the sell, and right to the lowest very short-term area for the move. Both times pushing the very short-term to its limits, but not 'jumping degree'. We shall see from here if this induces a bigger bounce, or it it does flush. There are key line and price flow 'attractors' down below, but this thing has been selling and selling and really needs a bounce. And they know without one it could get monkey-hammered. So, I suspect a bounce may be coming. We'll see.

Overall, I think I was reading the levels quite well and posting the ideas, but I should perhaps try to avoid so much gobbledygook from the 1-min and tick charts to occupy myself. It's interesting and useful to me, but perhaps way too hard to grasp from a forum. Without the feedback I keep asking for I have to guess on my own what I should post...

Just a quick note here before the European open, and then I'm done posting. I am looking for a place to go short-side bias. I would prefer the monster area of 92-96. The confluence there is insane. I'm hoping we see that soon. I'd love to see it right before our open, that would be nice. But, this level in here is a key one (81.75 high), right at the European open. If the weakness is pervasive, this may be all it's got, and I'm suspecting more and more that this could be so. Hence, I'm watching to see how it handles this spot as they open. That's all, folks. Hopefully I'll see you at around 95.

Okay, one more post. Then I quit for the day with the posting. Here's a hint. Look between 53 and 63 and do the work. That's my next level on the downside. But, let me mention, one ideal scenario, one which I don't think we will see, is a bounce to the 92-96 area (the .447 is at 98.98) and a roll down to the area you'll find between 53 and 63, with a timing factor of next Friday. We'll probably just see that low area by tomorrow. I sure would love to see that ideal scenario play out, but I can't imagine it taking that long, if it did happen.

Okay, so it went right to 63, and then right up to the 92-96 (it's just a tad shy, but 'it's there'). Beyond amazing.

Everyone understands what 'It's there' means, right?

I don't mean I don't think it could come off this area here and then go up fully, deep into the area. And I don't mean it's not going to rise way above the area. I just mean, with a run like that, any weakness and the shot is worth it, or the shot may be gone. Especially when it has been falling just a tad shy of areas as a 'bad habit' the last two weeks.

CDE got hit a little bit this week.