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.

I'd say you nailed that monster just about dead on. That's some fine work.

Originally posted by MarcinO

A little monster in low 30s.

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Is infinity a number?*


* I'm a mathematician, so yes, this is meant to be funny.

Originally posted by rat89

how many times will they put it back up to the .886?

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Of course the standard everyday run of the mill work I do showed the significance of the high there. Any of my more recent students should have been able to put that together in under sixty seconds (all of them should be able to do it, but the emphasis I put on certain things lately should put this area together in a flash). But, be very, very careful in here at this ABCD level, as it is entirely possible that's all it will do, Highest probability scenario, in my opinion, is the same as yesterday, chop in the upper end of the range until close.

Tremendous confluence here at this ABCD completion point. I think it may give way.

May read may be off, but chop is still what I'm expecting.

Retest of the area there and big reaction. Now we see if it's really as straightforward as they are making it look.

Yawn (boredom, not sleepiness). Watch the price flow/overhead TL's here. I just don't see how a move over 24 points that reacted dead off a key area is going to take it out before the close. But, I'm not thinking it can sell after a pop like that. Hence, chop. But, we'll see. It is perfectly set up for another leg. But, it's a tough read to call for it, up against a brick wall, and hitting it all extended. It is a well-corrected trend up, though. All I'm seeing is 'chop'.

Let me add that if this was 'the old days' I'd want to short the daylights out of this. By 'the old days' I mean before the unlimited slush fund government sponsored machine ramps this would get slaughtered off a spot like this.

Okay, let's see if they are for real, or if it's 'choppy-choppy' time.

Retest resistance right here, right now.

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!