JI
jimkane
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Patience is a virtue in trading, especially the way the ES changed four weeks ago. Now watch this bigger bearish ABCD area, with the ABCD we just saw in the BC leg.
JI
jimkane
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It's kind of odd it stopped where it did because a key spot on the way up is closer to 78.25, so you'd think they'd play off that.
JI
jimkane
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It just doesn't like this area. One thing that does mean is if it does overcome it, it will likely really pop, in my experience. But I'm not sure it's going to do anything but grind in here.
JI
jimkane
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That was a nice shake, right to the precise frequency. I'm not saying it will, but it's clear to run to the next area now. Since the changes just over four weeks ago, I've really developed a thick skin for deep overlapping swings and grinding chop. The strategy is to just get in and let it try to shake you out. Just like riding the mechanical bull at the old Gilley's.
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jimkane
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It blasted up hard to the area. Let's see how it handles it. It's just about reading the clues and making management decisions.
RA
rat89
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it's so interesting I appear to have posted it twice
Originally posted by jimkane
Yeah, that USO chart is very interesting.
JI
jimkane
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79.50 is the current high for the entire move, so you can see how this is all lining up.
JI
jimkane
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Hard to believe all this 'action', all this analysis, the technical behavior and so on, and it's only been just over 7 points from the LOD. Remember when it was 20+ point swings up and down like crazy, in minutes? Those days stopped for the most part just over four weeks ago. At least as far as being common and frequent.
JA
JaLee
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Hi Jim. This is Jamie, I just wanted to say this is great to be included in the forum. My eyes are glued to your comments and the charts! Thanks.
JI
jimkane
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You're welcome. I hope you can follow at least some of it. I know it's tough at first.
Originally posted by JaLee
Thanks Jim. I'm glad it's the weekend so I can study this and review your previous comments. Have a nice weekend. No golfing...(it's not relaxing, just a good walk spoiled as they say!)