The Cable stopped at 1.5023 exactly at intersection of two key lines from weekly/daily timeframe,
That might be it for a couple of days, but I wouldn't exclude further move down to about 1.1460-70, so as to hit obvious SL, before some correction.

I'm looking at 1.5140 and 1.5220-40 levels as interim AOCs for bearish correction.

Okay, my reading sense (you know, the one that has been essentially 100% wrong for the last few hours...) says this is a great chance for a scalp pop here. My trading gut says no, too uncertain, stand aside.

"At some point you simply come to conclusion that the best solution is to manage the whole, larger TF move, instead of trying to catch lower degree waves."

Yep, exactly.

Originally posted by MarcinO

Yes. This is what I meant. It's not that bad with the Pound today, it's not a choppy move mode, but still far from smooth trend either. At some point you simply come to conclusion that the best solution is to manage the whole, larger TF move, instead of trying to catch lower degree waves.

Originally posted by jimkane

'xxx is testing my patience for the whole day' should be my saying, or perhaps our KT forum saying. Some days are just easy start to finish, but sometimes it is easy to get caught up in how great it is trading, then one can keep trading as it goes into chop/endless fakes mode on the lower timeframe, and get 100% off on the reads, and then that saying comes in. I understand you likely meant just waiting around for it to get to areas, and sometimes it won't, but it can apply to what I'm describing, too. The last few hours on the ES have been exactly that saying.

Originally posted by MarcinO

Pound is testing my patience for the whole day. Timing factor shows that it can get to my area now or a bit later.
The risk is that the high of the move will take place at 20:30 EST (middle of the night in Europe), as it did yesterday.

This is just amazing to watch. So, they try to pop it up, and it gets met with harsh sellers, right as it forms a bearish ABCD. It may eventually break up, but the chop on the low end of the range of this last leg down is wild stuff. Usually I'd say if they don't come in this is going to get that stop run monkey-hammering, but they don't usually waste those in the same day... It's just soooooooooooooooooo weak looking, though...

Originally posted by jimkane

Okay, my reading sense (you know, the one that has been essentially 100% wrong for the last few hours...) says this is a great chance for a scalp pop here. My trading gut says no, too uncertain, stand aside.

Okay, let's mercifully put this session to an end.

There's a little running joke my better half and I have. I'll be watching TV (The Karate Kid, original), and she'll say 'What are you watching?' and I'll say 'I'm watching Daniel-son get the sh#% kicked out of him.' We've played that game so many times over the years that I can't count them all. I pretty much always have a TV on. If I'm making lunch or dinner, on it goes. If I'm doing a household chore, on it goes. Working out a little, on it goes, etc. I look for an old, classic movie, and crank it up.

Anyway, anyone trying to trade, even 'trend' scalp, the last hour or so would likely feel pretty much just like Daniel-son right before Mr. Miyagi jumped the fence there...

Yeah, rat, on the 1-min timeframe, for that last move, this turned out to be a quintessential example of 'chop in the lower end of the range'.

20 pips below the area...
One of the scenarios I'm considering, after the Pound hits 35, is a triple top formation with swings of varying size, but close/comparable to 60, before the breakout.
But it's too early to make any binding assumptions now.

I'm curious to see if they plan to sweep this down after the cash close. It makes no sense to 'waste' this sweep right now, but I wonder...

I really think they are going to...

And they did. How bizarre. What is the thinking behind this? Hold it on this level right until cash close, then sweep it down. Why? I understand a lot of the games they play, but this one, which I started to suspect as the cash close approached, I don't understand at all. How do they make money by waiting until the close? There is something about how it works in here I don't understand.

Originally posted by jimkane

I really think they are going to...

well, that was a fun day all around

I actually logged back in to make one more post. Look at how the ES finished in the little after futures Friday session! Another dump down, closing just off the new LOD, which was set at 2011.50! Sure, 'they' may come in like gangbusters on Sunday, but wow, is this weak. That change in tenor I got, it was no joke. I am so glad I posted that when I sensed it. I think the 1950's might be next.