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MarcinO
Rep: 67
Posts: 5,506
The Aussie is in interesting spot.
ABCD against strong resistance area.

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6a 2014 05 25 png


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6a 2014 05 25 big png
JI
jimkane
Rep: 3,058
Posts: 33,089
Nice setup, Marcin. The one thing everyone should keep in mind is that 'context' drives the market, not setups. So, a setup like this will tend to 'play out' if it lines up with 'context', and 'fail' if it doesn't. Setups don't drive the market, 'context' does. To verify this, all one has to do is find a slew of setups against a strong trend and see what happens (this was my major issue/problem with the 5-point pattern traders when I was first learning, and led to my writing MTAC). I am not picking on this particular chart, it just seemed like a good time to mention this concept again.
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jimkane
Rep: 3,058
Posts: 33,089
It's the 'triumvirate' again today in here, Marcin, rat, and Al.
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MarcinO
Rep: 67
Posts: 5,506
Including you it's a 'Gang of Four'.


Originally posted by jimkane

It's the 'triumvirate' again today in here, Marcin, rat, and Al.
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jimkane
Rep: 3,058
Posts: 33,089
AAPL sure is back in favor. Looks like it will keeps going until it takes out that all-time high. Recall that it was about a 45% drop it took. Making that up requires about an 83% rise in this case, in a major big cap stock. Impressive.
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jimkane
Rep: 3,058
Posts: 33,089
That is funny.

Originally posted by MarcinO

Including you it's a 'Gang of Four'.


Originally posted by jimkane

It's the 'triumvirate' again today in here, Marcin, rat, and Al.

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jimkane
Rep: 3,058
Posts: 33,089
Looks like another new all-time high is on its way any second now...
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jimkane
Rep: 3,058
Posts: 33,089
But I am on red alert for a 1-2-tick game, as it's also a perfect time for that.
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jimkane
Rep: 3,058
Posts: 33,089
They play the 1-2-tick game, then snap reverse it up and over?
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jimkane
Rep: 3,058
Posts: 33,089
And 'There it is!'
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jimkane
Rep: 3,058
Posts: 33,089
But, at 2 ticks over, could they play the game again? Possibly...
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jimkane
Rep: 3,058
Posts: 33,089
I was just reading some Paul Craig Roberts and how AmeriKa was lost (taken, really) and thinking about how I viewed the world when I was younger, compared to now. Thinking about what I think the future holds (it's all extremely awful, I have zero hope for anything good in the future at all). Then this song came on from Supertramp. It's all about being part of the 1% (0.1%?) in this rigged game. The rest are just slaves to be used up.

"So you think your schooling's phoney
I guess it's hard not to agree
You say it all depends on money
And who is in your family tree
Right, you're bloody well right"