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).

This might stab down to 92.00-.50 and then bounce, instead of right from here. But I'm not looking to buy the falling piano. I'm just prepping for when they go nuts on it to the upside. Some day they'll simply stop doing that, and we might be there now, but until I'm sure, I'm super-scared of them. So, I watch every danger spot with caution.

Boy, did that monkey get choke...

Uh-oh, that's not good for the bulls...

Hmmm, if they go to that 75ish area, it would be about 50 straight down. It's looking more likely.

I think the odds are increasing this is going to drop to 75ish really fast...

And 60-65 is really standing out, calling to it.

Jim, I like very much your do-your-work posts. This one looks tough. I think I'm not the only one struggling with it for the last hour and this is only the very beginning of work.
Great that you posted it.

Originally posted by jimkane

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 Tuesday 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.

By the very beginning I meant the time needed to solve and test it or give up.

SPY sets a new low during the ES closed period here. Those 'bulls' are in a lot of trouble.

SPY still selling.

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