No one else did it, so I'm kickin' it off.

In other words, if one is already short off that high, no problem, but I wouldn't initiate a new trade sitting right on all this. It may work out fine, but that wouldn't change my viewpoint.

of course. And the likely scenario today is to hit stops in both directions and then leave it at an inflection point, a point of least clarity for either direction.

Originally posted by jimkane

Nice post, rat. I do agree something big appears to be ready to uncoil. One thing I find is that a lot of the time I have no clue what is going on. But I think I know when I do know what is going on, so the secret is to act only when you feel you have your edge, and stand aside when you don't. Many moves can be missed, but the goal isn't to know all the time what is happening, or to catch every move, it's to be patient and wait for your shot, then act on that, then be patient again, and so on. I got this idea from Reminiscences of a Stock Operator, where he basically said when he was sure what was going on he was almost never wrong (I agree completely with that), but it's all those other times when he traded anyway that it mostly didn't work out (and I agree completely with that, too). I'm not really saying all this directly to you, rat, I'm mostly posting for everyone when I say this, it just happens to flow from this post.

fib trap

TL violated. Now watch for the snap trap. Lather, rinse, repeat. Yawn (not a sleepy yawn, a yawn of indifference, from one who has seen all this a zillion times before...).

Yep, all set up for the jobs report.

Originally posted by rat89

of course. And the likely scenario today is to hit stops in both directions and then leave it at an inflection point, a point of least clarity for either direction.

Originally posted by jimkane

Nice post, rat. I do agree something big appears to be ready to uncoil. One thing I find is that a lot of the time I have no clue what is going on. But I think I know when I do know what is going on, so the secret is to act only when you feel you have your edge, and stand aside when you don't. Many moves can be missed, but the goal isn't to know all the time what is happening, or to catch every move, it's to be patient and wait for your shot, then act on that, then be patient again, and so on. I got this idea from Reminiscences of a Stock Operator, where he basically said when he was sure what was going on he was almost never wrong (I agree completely with that), but it's all those other times when he traded anyway that it mostly didn't work out (and I agree completely with that, too). I'm not really saying all this directly to you, rat, I'm mostly posting for everyone when I say this, it just happens to flow from this post.

And there's the snap.

49.50 line intersection. Watch for reassertion of sellers.

They came in, and buyers promptly hammered them.

I know, let's have a 'chop battle', which has been the game lately. Look around the European open, look at our RTH open.

They finally ready to move now?

Don't be shy about posting JaLee. If you come back to the posts from 2011 when I joined the forum you will see that I couldn't do anything more than finding ABCDs in all directions, yet I decided to post charts and treated it as part of my trading education. Besides, I think we all have a slightly different specializations, rat posts CFDs mainly, you are following ES as far as I know, and I major in FX, especially the Pound. So it will work to advantage of all of us if we cover as much markets as possible.

Originally posted by JaLee

Yes I am very sad that he is no longer going to be posting here. I can't believe the wealth of information available on this forum. I do appreciate everybody's else posts as well. I will absolutely still be reading and learning from everybody here, but since I am fairly new to the KT Methodology I'm not sure how much I can contribute to others; but I would like to still be involved.

Originally posted by MarcinO

As we could all read yesterday, Jim considered seriously quitiing the forum after what has been happening in public area for the last few weeks. Today he eventually decided to quit and asked me to inform everyone about that. Sad but true...

Every user of private area will still have access to it, but from now on we are on our own.
I am going to post as time permits and I am almost sure that rat will do the same. What about the rest? JaLee?