Kicking it off. I'm not sure why I'm even doing the forum anymore, but still kicking it off. I guess I do it for Marcin, rat, and the other guy, and the small handful of others who come in now and again...

I'm out with ES

38-40 in play

Only a minor reaction. Next level around 1.2517.

Originally posted by MarcinO

Over 20 pips reaction so far. 1.2535-40 is my first support.

Opportunity to go long?

There is a bunch of lines and Fibs between 56 and 62.

Same game as in the morning. Find a TL and fake it out. Even on a sharp move at FOMC minutes they did it precisely so as to only get some stops and be able to come back.

LOD 37.75. Been at this game a long time... Even with all the 'trickiness' of this one, it still saw the middle area, did it with a rhythm I totally understand and watch for, and gave it up for the skilled trader.

Originally posted by jimkane

Okay, this one is a lot 'trickier' than I indicated here. Most of what I'll say can be summed up, for those not skilled in this methodology, as 'okay, so somewhere...' There is an area here from 42.00 -44.50. Then below that there is an area around 38-40, and then there is an area around 33-35, but a key .300 comes in at just over 36.25, and the .382 overlaps a key level at 31.50. It really looks like two subharmonics there, but it could be one broader area from 31.50-36.25. Hence:

42.00-44.50
38-40
31.50-36.25 (33-35 the center of area)

When things are layered like this, it's sometimes hard to really see what the obvious area will be. It all becomes about price action, and the structure of the move on the way down. This one is a little tricky, but since the play right now is just down until it stops, the areas are more for management, then let's see what it does in the AM. Understand, I am not ruling out that it could be done in here at this first level.

Originally posted by jimkane

I'm looking around 38-40 next, although there is some stuff in here around 43-44 it must overcome first. Afer that I think it will try to test the level of all those swing-lows in the mid to upper twenties.

This really sums it up in a nutshell. I don't know how any critical thinking person keeps from being overwhelmingly discouraged about our future. I just don't know...

http://www.washingtonsblog.com/2014/11/crisis-foreseeable-thousands-years-ago.html

Sweep down (H&S), sweep up and reversal again?

Sums it all up nicely. When will 'we' ever learn...






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