Starting it off.

And if this is going to turn down, that's the spot I'd expect it from. I think the odds of it turning down, though, are about a million to one. Just my humble opinion.

Originally posted by MarcinO

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So, recall the joke about 500,000 contracts, 300,000 still in play? Recall I said it was a joke, but a joke with a point? See, that was a satire on a 'player' trader. He knew the significance of that area, so he loaded up. And kept loading (this is not advocating for averaging in, but I know of more than a few successful traders (according to the accounts I have read of them) who do average in, and do it for short-term trading), as it wiggled around the key area, sorting itself out. It never violated the area, or came near the stop. And who was he buying from? All those gurus and their followers who were screaming for lower prices. That's the way the game works, day in and day out, on all timeframes, in my opinion. KT'ers saw the area, the 'player' saw the area, the 'gurus' didn't. Same old, same old.

Move down in the Euro looks like done.

It saw the area. My 'target' range is 24.50-28.25 (the top comes from yesterday's chart).

The interesting thing here, Marcin, is how well it liked the 'timing factor' from the area. But, the market is sooooooo stretched, and so close to the key overhead area, that I am wary of long trades in here. I'm not saying they can't be played, only that I'd be in 'jumpy' mode if it starts acting even slightly not in keeping with how I'd expect it to behave. Just some thoughts/opinions.

Thanks for comment, Jim.
It tells a lot about a proper management perspective.

Originally posted by MarcinO

It saw the area. My 'target' range is 24.50-28.25 (the top comes from yesterday's chart).

Awesome work, Marcin.

Al Kamego

Thanks, Al.
Key area for the Aussie.

Time for another leg into the close... I say they'd get the all-time highs before the close, which they could easily do, but I think they may hold off for now with that. We'll see.