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.

I actually don't think there's much chance of that, but I asked because they came right in.

So, this was a big 4PT there. If one was bullish off that 77.75 area, then this would be a great 'W2' entry. The questions is, are you bullish?

And, can you be bullish just enough for an intraday play, even if you aren't looking for a big move?

Okay, look at the overhead TL coming up soon of you did take the long.

ES stopped right at key slope for now.

Here's the thing about how I do this forum, and why 'outsiders' just wouldn't get it. I can see that guy, if he came in, criticizing what I did there. How I teach. He would say I should have said my exact entry if I traded*, and to be clear if I was going to trade off that, and then state my 'profit target' (which we know isn't even in my very comprehensive 'Trading Plan'...). And as soon as I do that people stop thinking and just do whatever I do. Note I have never posted one single trade in over 32K posts. That's not the kind of forum this is. This is about me trying to guide people on their journey to learning my methodology. And I do that in the way I feel is most effective.

Look, I posted the area way, way, way in advance. I thought it only had like a 5% chance of seeing that in one day. Over time, maybe, in one day, not likely. But it got there. So, now it's on an area. What now? Well, I gave some hints. Think about it, do you best guess as to what the right move is, and try it out. Practice. Nothing wrong with simulation mode in the early stages, no need to waste money. Do your journal, try to understand your reasoning and your weaknesses. Then work on those. This isn't one of those brain dead, simple methodologies with an obvious 'profit target', where posting one's actual trade sequences with a few lines explaining, and doing that over and over ad infinitum is going to 'teach' somebody something. We are at a whole different level in here, with a whole different methodology. And this is how I teach it.

* And here's the really aggravating thing. If he does come in here (chances: 0.000000000000000000001%), and sees that I 'call market turns' left and right, many times to the tick, over and over, he won't then say I know what I'm doing. He won't accept it. He'll then say I never post actual trades (which has never been something he 'asked' for). Then if I did that (I won't, it's not my style, and my attorney long ago when I started the project told me it is highly ill advised), he would say well, I can't tell if those are real trades. He'd need either some live screen capture video program, preferably with sound, or such. Then if I did that, he'd say maybe those were edited, or hand selected. So we'd need what, a 100% of the time live streaming feed of every day for how long? Then he'd say well maybe the account is only a simulation account. Then he'd want audited statements. If I did that, he'd say I bought the auditing company off. After all, if the big banks did it, why not Jim? Then what, I invite him over to my house to watch me live? If so, I'm sure he'd say I had a lucky week, or that I must have used some fake delayed loop or something to make him think it was live. I realize there is nothing I could ever do because people like this simply are too jealous, or carry too much malice, or whatever, and they will never give me credit, even if it is due, no matter what. They can't. Maybe because they feel so bad about themselves that to give me credit, raise me up, makes them feel even less about themselves. I don't know. I just know we will never, ever hear this guy say that Jim knows what he is doing, that there is value in his work, and in his books. It will never happen, no matter what. You all know my track records on reads, it's not too bad. Mark my words on this one.

I know, time for a rat-ism. 'Listen, Jim, who cares. We have greatest little club in the world here, we have fun, let it go. Be happy with what you can do, and what we all do in here. Relax, man...'

Of course. Now let's see if this chop DT ABCD is what it needs to burst over.

Originally posted by MarcinO

ES stopped right at key slope for now.

Time for a 'Yawn' of indifference. And the DT ABCD sends it over the line and to a new high for this little move. Now watch to see if that's the trap.

Originally posted by jimkane

Of course. Now let's see if this chop DT ABCD is what it needs to burst over.

Originally posted by MarcinO

ES stopped right at key slope for now.

Notice that high was the overnight pop high, to the tick.

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!