Longer term areas for Yen:



and Canadian Dollar:

See? How did I know that? I thought they'd shooooooowsh it. They had a big bar down. So I figured they'd snap it up hard and trap both sides. They did. Then they hit it down hard. So why did I expect it to explode then? Look at the chart (that's all I should have to say...). They took it one tick below the RTH low, right to a key TL. Then they put in a higher low 'W2' and then really hit it. Come on. Talk about obvious, to me it doesn't get any more obvious than all that. Same old, same old with these characters, as I am wont to say.

Originally posted by jimkane

Okay, watch what happens now.

http://armstrongeconomics.com/2014/06/28/christine-lagarde-the-most-dangerous-woman-in-the-world-imf-advocates-taking-pensions-extending-maturities-of-govt-debt-to-prevent-redemption/

Especially note the transaction tax and the ban on short selling. And this, while the market keeps blasting to new all-time highs! Imagine if it starts to seriously tank.

http://armstrongeconomics.com/2014/06/28/europe-snubs-britain/

The only real question I have is, will a partial position left over from that long there pay off, or will they try to shake people out before they rise it?

classic kane

'Too easy'. Jackrabbit start, no heat, easy ride with the position from yesterday, and easy multiple chances off the open. This, in my opinion, is as close to having an ATM (linked into an unlimited source) or a money printing press in your house as one can get.

Originally posted by jimkane

The only real question I have is, will a partial position left over from that long there pay off, or will they try to shake people out before they rise it?

And yes, this high was worth a countertrend short. My recent students know my criteria for that, and surely should see them today. And now that it's at a bullish ABCD area it's time for what? Yes, caution.

From the old Outer Limits TV show, now adapted by the Fed/Oligarchs for the market and 'the system':



There is nothing wrong with your television set. Do not attempt to adjust the picture. We are controlling transmission. If we wish to make it louder, we will bring up the volume. If we wish to make it softer, we will tune it to a whisper. We will control the horizontal. We will control the vertical. We can roll the image, make it flutter. We can change the focus to a soft blur or sharpen it to crystal clarity. For the next hour [indefinite period], sit quietly and we will control all that you see and hear. We repeat: there is nothing wrong with your television set. You are about to participate in a great adventure. You are about to experience the awe and mystery which reaches from the inner mind to – The Outer Limits.

Source: http://slopeofhope.com/2014/07/churning-the-headlines.html