After spot market clouse the Euro gave a 35 reaction off the area posted on Friday, but I would expect a little more down.
The Cable is also in a very distinctive area, defined clearly by basic KT tools.

Time to see if this ES short is going to really go anywhere or not. I'm pretty sleepy, but look at this action. Good thing I got a big nap in. The way it was set up, I thought something good might happen around the European open. I think volatility may be rising again soon.

Euro just above the lower level...

Originally posted by MarcinO

This why it stopped there. This area is very strong but the Euro looks weak.
If that one doesn't send it up, there is quite a confluence at 1.1135-55.

Originally posted by MarcinO

1.1190-1.12 is next

Area hit with a nice 3D (M15 chart). If it doesn't stop and reverse here the Euro will most likely fall below 1.11.

First signs of reversal. Now give me my 400 pips to 1.1550, please.

first target hit in smaller time frame. One of three things will happen at the median line according to roofer: price will reverse, coil, or accelerate

Looks like accelaration to me.

Super-key area here in the ES. All the price action factors are in place for a bounce. If it doesn't happen, that's a big clue to me. That short setup from last night was a beauty now, wasn't it? It brought it all the way to this key area in one shot. This spot is so key I had to change my ways and post during the RTH.

If this tiny, violate the first downsloping TL only, bounce is all it can do, it may get monkey-hammered. It could be sign of what's to come...

I wonder if the Euro isn't headed down now, to take out that low and break the thirty year TL...

Originally posted by MarcinO

First signs of reversal. Now give me my 400 pips to 1.1550, please.

ES backtest of the broken downsloping TL. Now we see. After a day like this, I can't see it bouncing, but this area is a big one. I think the market is most likely toast.

What more could you wish for? A return of roofer would round it out nicely. Anyway, it is far better to have three focused traders than a chat room full of noise. This week was another killer week, can't wait for next week ;)

Originally posted by jimkane

What a triumvirate we have in here. In a Jamaican accent (imitating the guy in the movie Cool Runnings) -

We got de:

One Jim, shakin' it down on the ES intraday

We got de one Rat, killin' the stocks and ETF's

And last but not least we got de one Marcin, dominating the Euro for all to see.


All discussed in advance, pretty much day in and day out. Yeah, this ain't the coolest forum ever.