I'll start the week out with a chart from over at Slope. Oh, if only analogs like these played out more than the seemingly about 1% of the time that they do... Oh, if only...




Source: http://slopeofhope.com/2014/06/draw-thine-own-conclusions.html

The Euro.
TD ABCD?

ABCD to 30-32?

Well, Marcin, it does look like you got the area for the drop. It pushed hard on what you showed, and with a few tweaks/additions, one could see why it perhaps pushed that deep. Now going two points over instead of two points shy? Is that going to be a new trend?

I hope to reduce it to one tick

Originally posted by jimkane

Well, Marcin, it does look like you got the area for the drop. It pushed hard on what you showed, and with a few tweaks/additions, one could see why it perhaps pushed that deep. Now going two points over instead of two points shy? Is that going to be a new trend?

Now, that's the spirit!

Just a few lines on this one, and I think you'd say 'Ah, now I understand why they pushed on it through there by a fraction...'

There are two sets, really cool sets, not ones one might readily draw, that are just amazing. Lines, sets, and, in my opinion, it all becomes clear, the bounce, the sell, the bounce. Just frickin' amazing.

Well, that 'sharp pop give it all right back' deal frequently, in my experience, means big up coming (big up proportional to the said moves). But, let's see how this layered potential resistance from around 33-36 is handled. It looks powerful strong in here, but that may just be 'the game'.

The interesting thing is if it does manage to take this area out, is it shooting for that 38-40 area (my recent mentor students should know why...)? But, when this happens makes all the difference in the world, technically, based on all those lines it is coming up under. This is going to be very enjoyable to watch, regardless of the decision. I love technical action. I love 'market art'.

I just love how it is 'scared' of the area, just hanging right there, not really testing it, but not willing to really back away at all. I just love technical market action.

I think the middle one applies, too, if you know the enemy, but not yourself.