Champing at the bit. Can't wait for tomorrow. Wish I had a little bigger following with more participation...

Watching the low end of the range now, seeing how the short plays out.

Waiting on the open. I just want to see what they do. I can't imagine, if it didn't drop it by now, that they wouldn't goose it up on the open. The question, then, is do they let it come in by the AM after they trap everyone on the goose up? Just questions I love to watch get answered as it unfolds.

Flat ABCD to 1912?

And this one did, indeed, 'play out' for a nice little move. Once they brought it in in the AM for better prices, right to an area, the play had done all that was expected, and it was time for the usual bullish AM play, which went right back to price flow. Then down, right to the SL, then back up and over the price flow. Nothing at all surprising in all that, in my opinion.

Originally posted by jimkane

BTW, I thought it was worth a shot, for the experienced, nimble trader, to get short after the stop sweep up seemed to run out of juice. This is not the usual setup I look for, or teach about, but isn't an out of the question potential trade, either. The big downside is being exposed to the market for perhaps a long time until this starts to play out (if it does play out, that is). The 'trade o' the day' was right at that fantastic confluence at the LOD, though. If you do the work it jumps right out (it wasn't an ABCD, though).

On the surface this setup Marcin shows here is an obvious one, a 'no-brainer'. But, there are many, many detailed technical factors that describe why it did what it did. In the overall, looking at all factors, it turns out that it was more 'obvious' that it might do what it did than do this scenario. I think the 'flat' was just too obvious to Joe Average. But when one sees all the factors of this layout, what it did was quite eloquent.

Originally posted by MarcinO

Flat ABCD to 1912?

Click image for original size

Here's an economic post (in a sense). I find it interesting how perspective changes everything. The technique I am going to use here is one that has become very popular on economic blogs and websites (that tell the truth) over the years since the 'financial crisis'. The concept is to show the 'official' word, crossed out, followed by the 'real' word. What I will do is simply write a paragraph, tell you a synonym for one word, and rewrite the paragraph with the new word. What I want to show is how the perspective changes when the veil of deception is lifted. This is based on a 'news headline' I just heard on BubbleVision.

'According to the latest report inflation in the EU came in below expectations. The ECB is now in a position where they should increase stimulus so as to increase the rate of inflation.'

Now, let's get to our synonym. 'Inflation' = 'Stealing'. This is not stretching it, this is not a wild assumption, this is not some conspiracy theory speculation, it is pure, 100% mathematical fact. And what makes this even more interesting is that inflation is not only synonymous with stealing, it is a pure equivalent. In other words, inflation is purely and totally stealing, it simply has no other definition. And that's a period, end of story. Now, given that, and the wool that has been pulled over all our eyes all these years by those doing the stealing (understand, the 'official definition' of inflation has been created by those doing the stealing), let's look, again, at the original paragraph, and the rewritten one with the proper term in place. Let's see if the 'perspective' changes at all.

'According to the latest report inflation in the EU came in below expectations. The ECB is now in a position where they should increase stimulus so as to increase the rate of inflation.'

'According to the latest report stealing in the EU came in below expectations. The ECB is now in a position where they should increase stimulus so as to increase the rate of stealing.'

Change your perspective a bit? Case closed...

Any inflation (=stealing) is bad. One of the biggest lies ever brainwashed into people is 'Some inflation (=stealing) is good.'

Thanks for your posts today, Jim.
Food for thought...

And thanks for the acknowledgment. I like to try to make people think.

1.46 at the top, 1.46 at the bottom? Eye on 27.06:

DB to 10.50.

Very funny and apropos comment from over at Slope of Hope:

"Please stop using the term "bears". There are no bears. Only bulls and people who used to have money. Comprende?"

Source: http://slopeofhope.com/2014/06/jump-in-the-drink.html#c1760911