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.

Notice how that stopped it dead (for now)?

Originally posted by jimkane

Notice how it reacted to the SL, to the tick by my data.

One thing I say in mentoring is one can play countertrend with very specific guidelines, and it is something I don't advise until they have 'mastered' with trend for at least five years.

Originally posted by JaLee

I would say it's low probability and therefore not advisable, however it seems to be reacting off ML //. ?

And no, I didn't just write all that now, I only posted it just now. I wrote it up end of last week but had an issue getting the topic locked.

Crazy Jim...

The timing factor I look at says it is getting close to time to move out of this little range here.

I'm not sure why, but it's taking like a minute or two to post or change pages now at My Pivots. All my other sites are working fine. So, I may not be able to post at some point, or the posts may appear late (and hence not timely). Just a heads up.

I wanted to comment before this posting slowdown hit that sometimes the timing factor interpretation has an ambiguity as far as how to interpret it. In this case one can simply not use it, or look at two possibilities, which is how it usually shakes out when this ambiguity arises. It exists in this case. Hence, it is either ready right now, or in a very short while. The interesting and useful thing is that you can see the time, then see if it explodes, or if not, wait for the next cycle, in which case the ambiguity is gone, given the first possibility didn't play out. Regardless, the timing factor is not needed, it is only one more thing of many I add to the pile to guide me. It is perhaps 0.1% of my 'Trading Plan'. I just like to mention it because it is absolutely remarkable in my experience.

Sooooooo close...

Tick, tock, tick, tock...

And there it is, right on time. Now we see if it moves to the next area (87.00-89.25, center of area), or if it is a sweep, then down, maybe for a lower sweep. Not too many sellers today, so that would be quite the surprise if they gave any of this back. Looking like another one trade type of day, in on the opening setup, out at the close, maybe even leave some running. But, don't get too cocky, as it's very rarefied up here.

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!