Starting it off.

and it keeps on going! How do you know when they will come in for it?

you see price go to the lower line of the purple set, and you're all set for a reversal long....instead you get a waterfall and price breaks down. Now that price has stopped you put fibs on it and see that the consolidation that led into the failure occured within the central fib area - 1st chart, green oval. in the 2nd chart red fibs added and aqua swing shown with external retracement = 2.618 at 109.05

$spx 30 then and now:

Rat, you are chart factory!

.8785-90 should be it for the Aussie.

Euro and Aussie look like in a final tiny push to the PTAs now.

I'm glad I put out the effort for everyone (all what, two of you?) to repost that. The LOD was 18.25. About 27.50 points high to low, and then right back up the same amount, in smooth, easy to stay with trends. This is four days in a row that I rate a 12 on a scale of 1 to 12, as far as the trading action. Today is actually probably a 14. I'm still stunned. I posted this area a week in advance. rat was also all over this in advance.

Originally posted by jimkane

Okay, you guys owe me for this one, it's late, and I'm fried, and I did it for you anyway. Right now 17.50-22 is the heart of the heart of it. My question is, do they go right for it, or do they do a 'backtest' around the 51-54 area and then go down. This is assuming it is headed there at all. My view right now is short with management mode in place, and it does what it does. Okay, back to bed. When something is 'in play' like this I tend to check every time I wake up, so if anything big happens and I wake up, I'll try to post. This is a good night for 'the cot'. I need to find that post and repost it for our recent new readers.

Originally posted by jimkane
25-Sep-2014 at 4:15 PM

My best area on the downside is from 14-29. It's a higher timeframe area, so that width is reasonable, but I'm including everything in there, from the .382 to the .447. The 'best heart of the heart' of it is from say 17-23ish. It depends on when it gets there, and on what else it shows on the way, as far as pinpointing the area better. That is, assuming it even goes down any more. There is another key area before that, and we are sitting on one right now, which it obviously 'sees', and it has reacted to it a little bit. So, we'll see.

And the very nimble, very price action sensitive, very, very advanced trader is now likely countertrend short here... And that trader is very sensitive to this spot right here, because it's not a good idea to fight 27 point rocket launch moves.

The generals are leading, and the troops aren't following. This, usually, is a very bad thing.

http://www.zerohedge.com/news/2014-10-03/market-breadth-has-collapsed-around-world