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.

So, is that 89.50 the LOD? If not, then this is a giant sucker trap here.

for some reason, when I read this quickly I thought you said clown

Originally posted by jimkane

No way they won't sweep this down here.

It just so needs a much bigger correction, all the way up from the weekly. Longs are getting more problematic until this area 'blows out'. Nonetheless, until the higher timeframe triggers the short side, short side trades on the lower timeframe are also problematic. I will just stay long side bias, but be very selective and very cautious.

Pretty funny, rat.

Originally posted by rat89

for some reason, when I read this quickly I thought you said clown

Click image for original size

Originally posted by jimkane

No way they won't sweep this down here.

The best I am hoping for here, unless a program comes in to blow this out, is a nominal new high. The best area is 2102-04, but maybe just over 2100. I would be surprised if it can even do that unless the character changes. Watch the almost horizontal overhead TL coming up shortly.

5-min overhead TL right here. Now we see.

5-min overhead TL taken out. Set line here next. Then the 15-min overhead TL. Then the high for the move at 2098.50. Then the area. One by one let's see if they fall, or not. It looks like the momo algos are on fire now.

Set line taken out. Just about at overhead 15-min TL.

15-min overhead TL just a fraction under 98. I should have also mentioned the pre-market swing-high at 98.

15-min overhead TL hit. This leg looks close to max'ed out, though. It only needs a little bit more to hit those stops and get us there...

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!