Euro stopped at a very interesting area, showing some potential for reversal: bullish ABCD (H4) zone at the same price level as grouping derived from bearish ABCD on D1, at the top of B point and daily MA(50).

And Europe opens and it explodes to new highs. Wow, again, I'm so shocked.

Now, this is in the start of the key area, so there is always that one in a million chance it could go down. This 17.75 is 'the spot' from the very-short-term data. So, now we see what they've got.

Key area and almost no reaction so far...

you have to just love the .886
line to line to .886 and turn.....kick, turn, kick, step, turn and kick

watch the measured move, the bigger 1.618, the smaller 1.27 off last week's high to low.....everything leading to 154+ area

but first the dance around this .886

Okay, the low there is very significant on multiple higher timeframes. If they let that go, it could mean a lot more downside. I'm hoping it gives way, but I can't see it happening without some kind of fight. But, you never know...

Okay, Duane wanted a chart, so here's one. Unfortunately, unlike Marcin's and rat's excellent charts, this one won't demonstrate any technique or really teach you anything. I wanted to show the line I had for this AM, put on the chart Thursday and 'reconfirmed' Friday (I actually had it Wednesday AM after the European open...). This is based on a new technique that I have shown the student mentioned in the last post from last week. I just wanted to show what this added for me for today. Sorry I'm not showing how I did this, but something like this is far too proprietary for a forum. I just thought I'd show why I am sometimes so amazed at the order in the market. I personally didn't really even expect it to respect this.






Chart created on QCharts, courtesy eSignal

You nailed that one, rat, posted in advance, of course.

Originally posted by rat89

but first the dance around this .886

Click image for original size

Read the links in this (and scroll up and read the article if you want). It's a 'glitch' in human nature that I simply don't understand (and I've been studying it intensively for years) why there isn't total panic, riots in the streets, and so on, like in many other countries. We will not do anything, as a populace, it seems, until we have a total collapse, then we'll be left with ruins and rubbish, and we'll all be saying 'What happened? No one could have seen this coming... What bad luck this is.'

http://www.zerohedge.com/contributed/2013-03-02/cola-changes-pro-and-con#comment-3293759