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

Nice explosion off the European open. 34.50 high. But I can't imagine this area holding it...

Time for another pop. Right all up against it. I need to get back to sleep, but this is such a critical spot.

So, it respects the area I mentioned, dropped right to the price flow, to the tick as I had it on my chart, and right up to the price flow. This is so fascinating, I'm thankful I have a high-level student this weekend that I can go over this with, or I think I'd pop. The action has been so technical it's just nuts, and if I can't share it with someone I'd probably have my head explode, like in the movie 'Scanners'.

Anyway, this 'range' on say a 60-min/240-min is due to break now. This is what the blogs have been calling a 'bear flag'. That makes me think it will more likely break to the upside.

Time to pop and look at the time of day. Funny how they like to be at critical points as the RTH comes to a close. Same old, same old.

Let me throw out a 'funny' note here. I was looking at a chart of the recent action, just stepping back looking at a blank chart, and what stood out to me was how the recent dump from the all-time high, the area Marcin did the nice chart for, that move down was very impulsive looking, and the move up, very corrective, with heavily overlapping swings. You know what that should mean? What it, in the past, would, in my experience, almost always mean? More down, and serious, coming. You know what it means nowadays, with what I feel to be over 99.99% certainty? More 'up' coming, with an 'upside breakout' from the bearish overlapping swings bear flag. Yep...

I would really like GZ to be hit before a reversal just above TL watched by everyone.

speaking of gz

where the 1.128 meets the big .886

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