On Friday Pound stopped right on a monster level, so the move up might be done, at least for a while. However, it likes deep W4s testing W2 highs (in a downtrend), so one more impulse to 1.4260-70 won't be any surprise.

we saw this potential bear abcd last week in uso:

I wonder if these moves in the ES and crude will stick, or if they will play the make it all right back game, as they have done more times than I can count. It's not like the outcome of Doha was anything except exactly what was expected.

The Pound is set up for a CD leg to my 1.4270 area, the problem is this is a countertrend position, requiring tight management.

That correction to 1.4165 might be it.

And it gets going.
My next level is 1.4220.

That TD ABCD looks done, so Pound should continue to the upside, but we will see.

Wrong. It looks done, and we are most likely after HOD.

So, the ES pretty much closes the gap (depends on your definition) and makes it just about all back. It rises off the KZ, and bounces just about to the tick to the most obvious set lines and frequency. There are many key things there from previous work. It does this rocket launch pretty much right off the European open. In other words, same old, same old as far as the tools. The tools were 'all over it'. No claims, just an observation.

Originally posted by jimkane

I wonder if these moves in the ES and crude will stick, or if they will play the make it all right back game, as they have done more times than I can count. It's not like the outcome of Doha was anything except exactly what was expected.

Notice from the line work for the bounce spot there, where this is right now. Interesting, huh?

And they're off!

It's been a wonderful week for me. I want to thank everybody for their comments and charts and I'm really happy to be included here. This is a breath of fresh air to be with a group like this. Thanks to all for putting up with my "newbie" questions and learning process. Hopefully I can climb the learning curve and be up on the slope where you all are! Everybody have a great weekend and will see you on Monday!