On the way to 40s area, there is also substantial resistance around 2020.
It includes two sublevels: 22-24 and 13-14, below which ES finished Friday.

What a suck sh&$-a@# day this has been so far. I'm just sitting around with my thumb up my a%#. I'd like to say finally it's going to move now, but so far it's 'made its move' only to fail almost immediately after about, what, fifty times so far? I'm not even sure why I'm still watching, except I'm stubborn. Then tomorrow after the Fed announcement it will explode like 50-100 points instantly (one way or the other), and then probably go into chop. Just great. Oh, well, that's trading sometimes...

Okay, they swept the stops up again. Will it head to my area? I have no idea. Probably.

Let me correct that 'probably' to be an even more useless 'possibly'.

Note that this is a potential bearish ABCD in here, on the way to my posted area. I think now that they finally came out of the chop it possibly could grind up some more. How's that for conviction? 'Possibly could'. Now I sound like all those knuckleheads out there.

Pound wants to test 1.41, I guess.

I was talking with a student the other day and I was explaining how once you get to a very advanced level you can do things you can't do when your skill set is not up to that level. I can't show what I might really be doing in a given situation because it may bend (or even break) 'the rules' I teach, and do so in a way the student can't yet grasp. I mentioned that the more experience and skill you have, the more you will know when you can push the envelope, and bend the rules. You learn the exceptions. You know when to push it, and what you can get away with. Experience and feel, as well as skill, become a key, very integral part of the rule set. So, why am I bringing this up now? Because I just stumbled upon this quote by Oliver Wendell Holmes:

“The young man knows the rules, but the old man knows the exceptions.”

And, as they say, and as I was trying to explain, 'there it is'.

Sounds reasonable.

Originally posted by jimkane

I was talking with a student the other day and I was explaining how once you get to a very advanced level you can do things you can't do when your skill set is not up to that level. I can't show what I might really be doing in a given situation because it may bend (or even break) 'the rules' I teach, and do so in a way the student can't yet grasp. I mentioned that the more experience and skill you have, the more you will know when you can push the envelope, and bend the rules. You learn the exceptions. You know when to push it, and what you can get away with. Experience and feel, as well as skill, become a key, very integral part of the rule set. So, why am I bringing this up now? Because I just stumbled upon this quote by Oliver Wendell Holmes:

“The young man knows the rules, but the old man knows the exceptions.”

And, as they say, and as I was trying to explain, 'there it is'.

But know it looks like a typical machine buying.
60-70s may stop it, though.

Originally posted by MarcinO

Pound wants to test 1.41, I guess.

Thye tested down on M1, time for the upside test and possible continuation.

Okay, this 5.50 area has a lot of stuff, on the way to the best spot. It may not be able to hack it. We'll see.

add modified schiff set - solo and on prior chart in aqua