I will start this week with the Euro potential ABCD.
It may be premature at the moment as we are at potenial C point, but if this one plays out I will be looking at 1.3770 as a 'target' area.
JI
jimkane
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On the very short-term, I mean, of course, as that's all I am discussing right now.
JI
jimkane
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This 4PT/flat hybrid here may be all it needs. If so, that implies extreme strength to me.
JI
jimkane
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It looks ready now for those areas mentioned last night, and fresh new all-time highs.
JI
jimkane
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Yeah, it could weaken here and they could bring it in for better prices before they set another new all-time high, but I see nothing but up.
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jimkane
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I may be 'wrong', but I think this one won't give me an exit signal for the long play for quite some time.
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jimkane
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I should clarify the above. It depends on what play one is working. Intraday, very short-term, this one is already over. Short-term, the first area below is defined and is the line in the sand. Higher timeframe, well, which higher timeframe play? The one I mentioned just recently? Then quite a checkback would still be reasonable. Or higher timeframe but a later entry (I don't like this play), well, that's problematic. Or the 'player' play (remember that one?)? Well, that depends on the confidence of new highs coming. If that confidence has become shaky, then I'd be looking to scale some out. And so on. These are only some of the possibilities. Having a very clear, well-defined play structure in mind is critical, in my opinion. This is advanced stuff, but is all part of that collection of small edges that my methodology is based upon. This would be just one more small edge to look to create. I'm not sure if the concept is clear here or not, but I hope so.
