Starting it off.

It was a beauty, all right.

Originally posted by jimkane

Okay, the ES is now doing that thing where it is clearing itself out. So, the long looks pretty good now.

How it did the action off this area, it's a classic formation. Screen cap this and save it. If you work with me or some day might, show it to me and I'll explain it.

Originally posted by jimkane

I could see someone dabbling at this area here for a long, but I must say it could just chop and hack around, play games, who knows. The Fed waiting game changes the dynamic quite a bit. My main concern is that this is a pretty good area, yet it isn't bouncing much yet.

This would be a nice visual chart to post, but I can't post right now... Look at a 5-min chart and draw the wedge/contracting triangle. Notice it swept it down, then up, then big down, then blasted it back up, right to the center. Where to now? Crazy games.

Where to now (from the last post)? Right to the upper line, and now just about back to the lower line. The lines are getting closer together here, the coil is tightening.

Up off the lower line and over, now approaching the overhead TL.

Wow. Cool.

Originally posted by jimkane

Where to now (from the last post)? Right to the upper line, and now just about back to the lower line. The lines are getting closer together here, the coil is tightening.

here's something crazy - looks like an impending breakout.....or .886 of the .618 for a retest.....

Twenty minutes until it goes wild.

BTW, for those newer to trading, I essentially never hold over a major announcement, and the Fed meeting is #1 on that list (non-farm payrolls i.e. 'the jobs report' is #2).

The above mostly doesn't apply to higher timeframe plays like various option plays or longer-term holds.

And here's the new topic. Everyone please go there and vote that up (if you think it is good). Also, I added a post to the above one thread, so make sure even if you voted before you go and vote up that one. I know there are more people reading this than four, so please, everyone, help me out. I need to make sure that they don't seem vulnerable to down voting and we get the positive vibes going. Thanks.

http://www.mypivots.com/board/topic/8616/-1/charts-from-4-29-16