The Euro made it to a serious support area. The heart of it is around 1.2250 so a deeper move into it might still be in play.



The curious thing about this layout is that it doesn't really matter if we get one, ore more, push to the downside, geometry indicates 1.2330 region as a serious correction level. What's even more interesting, if someone wants to play aorund with Fibs and MLs and adjust it now at 1.2250 (although it has not been hit yet), they will give additional confirmation of the 30s importance.

Thinking Minimum 1.26 but if bottom is in place could go to 1.2880. Time will tell, dollar trend has been persistent. Besides this needs to pull back for my XAU trade to work :)

it's pretty cool

Originally posted by jimkane

Nice discussion today, rat, I appreciate it.

exits

bingo!

Nice charts, rat!

Last hour on a Friday coming up. Do they do the typical, or will all this pressure change the pattern?

Let's see if this nice, expected Friday end of day pop is done here, or not.

BTW, they did roll out this AM on the ES to the H5 contract, closer to what they used to do in the old days. Why they stopped that for awhile and didn't roll until after Friday I never understood, since the ES was one of the few (with say the TF and NQ) that had an 'official' rollover date, the Thursday the week before expiration Friday.

Selling hard. Will they pick it up here at the key spot it just hit?

Originally posted by jimkane

Let's see if this nice, expected Friday end of day pop is done here, or not.

I've fallen, and I can't get up!

Crude has a super-key TL around 47, and I'd think they'd want to screw with that. Then the key area is around the previous low, 33-36 and change. If crude gets into the 30's I plan to 'go all in' in every way, shape, and form I can on crude. Whether I will have the nerve when the time comes to break the rules and put a goodly portion of my eggs in one basket will remain to be seen. Many will be looking for a repeat of the last time it hit that level, and that worries me tremendously. But, crude staying in the 30's for any period of time? That could only happen if we are in complete collapse mode, and that would have to include China, who would be willing to buy the entire world's supply almost indefinitely at that price. it's all very 'odd'.

Bottom line, crude is at a monster area right now. The 47 TL area is obvious. And the 33-36+ area is known to every person on earth, even the handful of people in indigenous tribes who have never had outside contact. Even they are talking about that level. So, all I can say is, this is ripe for insane levels of games. It's going to be a lot of fun, let me tell you that!