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MarcinO
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Pound in the zone, Euro just above it. Final pushes down and reversal seem very likely now.
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jimkane
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Posts: 33,089
Yes, those currencies are doing exactly what you had hoped so far. I'm watching...
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MarcinO
Rep: 67
Posts: 5,506
Cable needs higher correction apparently. Will 1.6040-30 be enough?
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jimkane
Rep: 3,058
Posts: 33,089
90-min sleep cycle and I'm awake again. ES looks ready to jump up. We'll see. I'm hoping for more movement to this short side and better prices in the AM. Okay, back to bed.
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jimkane
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So, am I finally going to start doing what I said way back and post in the early session? Nah, I just thought I'd throw a tease out there for a change.
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jimkane
Rep: 3,058
Posts: 33,089
That would be the standard assumption, but I am waiting on this short side...
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jimkane
Rep: 3,058
Posts: 33,089
Anyway, the ES did something it usually doesn't do, and that's make any kind of move in the Friday after close mini session. This time it kept moving up, set a new high for the entire move, and closed almost at the high tick. It is now fully at the monster weekly backtest line. If this is a bear market, it should roll off this, and roll hard. There is a key area above, built from the immediate price action, and that comes in at 76-87, with a grouping of key Fibs at 94.00-95.50. I could see it hitting the lower end of the area, maybe a little above the lower end, and still be respecting the key TL backtest, but not much more.
Still, does it even seem remotely feasible that this is going to dump to significant new lows from here? The only hope I see at all is that not only do all pundits and analysts say no, it's completely and utterly an impossibility, most readers in here, I believe, are also saying no out loud right now. And that's not meant as a slight to the readers in here, who are among the most highly informed out there, I feel, it's more meant to imply just how good they are at sucking people in. We'll see. I don't really care, from a trading standpoint, what these maniacs do with it. So, that's what I'm working with as we reach arguably the most critical juncture perhaps in trading history.
Still, does it even seem remotely feasible that this is going to dump to significant new lows from here? The only hope I see at all is that not only do all pundits and analysts say no, it's completely and utterly an impossibility, most readers in here, I believe, are also saying no out loud right now. And that's not meant as a slight to the readers in here, who are among the most highly informed out there, I feel, it's more meant to imply just how good they are at sucking people in. We'll see. I don't really care, from a trading standpoint, what these maniacs do with it. So, that's what I'm working with as we reach arguably the most critical juncture perhaps in trading history.