Starting it off.

Al

Still rising off of yesterday's new nominal low. What is going on with the Cable (6B M18) for over a week now looks like a solid accumulation to me, so it is still oscilating around key daily level - 1.35. I guess today they will send it to the other side of range - above 1.3640.

say what you see:

Do you mean potential expanding ABCD, rat?

rat,
I see a hammer candlestick on the 50 sma at 0.886 fibo.


Al

Originally posted by rat89

say what you see:

Click image for original size

Click image for original size

Nice move UP in WLL near the time (10:30 est) of the EIA Petroleum Status meeting. Extra arrow shows 50 sma-200 sma convergance area.






Happy Trading,

Al :--)

Al,

I would measure fibs from 34.07 and 35.85, rather than 36.96, mostly because of the way the early May low violated the mid february high. I think I showed it yesterday, but both those low produce strong fib area at 38.90. However, the rejection at 42, followed by the rejection at 40.84 = .618 says be very careful to the downside, especially if the dollar is in the early stages of the move it appears to be in. The answer to my question regarding the 5 minute, was basically a potential bear abcd in the deep .382 area, and it's pushed back up there one more time here with low volume. Here is the 60 minute:

Originally posted by albert

rat,
I see a hammer candlestick on the 50 sma at 0.886 fibo.

Click image for original size

Al

Originally posted by rat89

say what you see:

Click image for original size

Click image for original size

not working...here is the 60 minute

rat,

Thanks for the comments. I will have to mull the information you gave me over in my mind, before I get back to you with a response.

Good Trading,

Al

Originally posted by rat89

Al,

I would measure fibs from 34.07 and 35.85, rather than 36.96, mostly because of the way the early May low violated the mid february high. I think I showed it yesterday, but both those low produce strong fib area at 38.90. However, the rejection at 42, followed by the rejection at 40.84 = .618 says be very careful to the downside, especially if the dollar is in the early stages of the move it appears to be in. The answer to my question regarding the 5 minute, was basically a potential bear abcd in the deep .382 area, and it's pushed back up there one more time here with low volume. Here is the 60 minute:

Originally posted by albert

rat,
I see a hammer candlestick on the 50 sma at 0.886 fibo.

Click image for original size

Al

Originally posted by rat89

say what you see:

Click image for original size

Click image for original size

Correction to 1.3525 and up?
Chart for 6B M18 conract

Paper trading. Bought calls for DATA, TRN, and XLI. Bought a put for FB. Made a little on two, broke even on one (not counting commissions), and bungled one for a loss (fumblng fingers) LOL.



Bungled this one by selling by mistake, at the wrong time. ABC fibo = 0.382 (0.400 calc), X for X*AB = CD is 0.618, X' = 1.128, X ''= 1.460


ABC fibo = 0.618 (0.598 calc)


ABC fibo = 0.564 (0.529 calc), X for X*AB=CD is 1.382 Broke even on this one,

ABC fibo = 0.564 (0.567 calc), X for X*AB=CD is 1.618

Good Trading and Have a Good Weekend.

Al :--)