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.

Lots of layers from here to say 40.75, and the overnight high is 41.75. I could see it fading anywhere in here, but if it 'breaks out, then much higher is indicated.

Thanks, Jim. A question, trend or congestion, has been the first one on my trading checklist for a very long time, but only recenlty I started to understand importance of that differentiation.

Originally posted by jimkane

I think what you describe here is key to my approach to the ES, being able to differentiate, on a given timeframe, line to line from trending price action, and then using the appropriate approach/technique(s) for that action.

Originally posted by MarcinO

Looking at the price action in the Euro, all those overlapping swings and line to line moves, I think it's clearing the market before a downtrend reversal. Esecially knowing that it's on a nice spot, coming from daily fime frame.
But no long term positioning so far. Only line to line games.

Yeah, it's why I don't post during the RTH, I have no self-control. Too many hours doing this alone, so if I have an outlet, I go wild.

Originally posted by MarcinO

Wow!. You're in a frenzy mode today, Jim.

I'd like to see it head down now and take out the lows.

Crude has done two more legs down on the 1-min. Awesome.

Nominal new high in the Euro, 3 pips higher, slightly moves geometry to the higher part of 1.1160-70 range.

Timing factor ready to come out of this little range here. I expect down has a higher probability.

loving it

Originally posted by jimkane

Was that sell in crude (look on a 1-min) just nuts, or what? Crude has been trading pretty nicely lately, in my opinion.

This move looks done.
1.1225 soon?

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.