I will start this discussion topic with EURUSD chart.
On Friday it reversed six pips below the zone. I assume it may hold for a while and give some reaction but then it will be crashed.
Just my opinion.

re bull bear...EVERY trader in the small group i allow to enter my TRADING thoughts has this as an important inflection point... both merriman and joed made as powerful a reference to this moment as i have EVER seen them make....we shall see....

nope.....slides right through that area...interesting

So, all the smart guys say it's done, and all the suckers, every last one, say way, way higher. This is good.

Originally posted by roofer

re bull bear...EVERY trader in the small group i allow to enter my TRADING thoughts has this as an important inflection point... both merriman and joed made as powerful a reference to this moment as i have EVER seen them make....we shall see....

See, here's where it's tough to post levels, and then it adds new info, and I can't really explain in advance (or in close to real time) what's happening without a voice chat. There are times when I post a lot (slow afternoon times), and times when I can't/don't want to post (important faster morning times when the key trade of the day sets up in the early AM for me). This formed an ABCD, pushed just a little bit through my key lines (the 'peek around'), and reached for the .300/.447 overlap, almost at a 1.272 ABCD (5 ticks below the higher level I posted). Look at the price action. Notice what it did on the 1-min after the turn (a little, beautiful-looking ABCD). This is close to as good as it gets.

What I want everyone to see is, they wouldn't even bring it down to a very reasonable level, they took it to a 'minor' area well above, and even played a little game with that. They won't let it weaken at all. But what they are doing is, in my opinion, highly tradeable.

Originally posted by jimkane

So, a nice scenario here would be a checkback to the 80 area (let's say 79.50-81.50) right around the RTH open tomorrow (or shortly after). That would be a sizable pullback, but it would help keep the trend healthy. This is, of course, assuming this isn't 'done' at the high there. There is also a minor area around 86.75-87.00, as well as some other lesser areas. I hope we at least get down to there. It would be tough to do any buying up here at 'retail', hoping for higher 'retail'. That sure isn't my style.

As an aside, I'm not all that convinced this is going any higher off this ABCD. It is set up for a move to new highs, especially with this nice .382 pullback in here, but I'm not feeling it. So, it's caution time, in case the tides have changed intraday here. Just a thought.

Time to be extra cautious here, as this is set up to plunge. It likely won't, but wow, is it set up...

If it drops at all, and does it small and controlled, I'm starting with an area at around 87.

That's assuming it ignores the ABCD at 89 area.

But it will probably just respect the TL it's sitting on right now and set those new highs...

I realized it now ..... Thanks Jim .