6 replies to this topic

[iloli way]

My last post of April 7 DAX showed that it was shapping up to move in this DBWedge pattern.



What happened since? See next updated chart, with arrows pointing out the follow-thru moves since then added by the market, prices following the DBWedge pattern faithfully.


So, the next legitimate move should be DOWN from hitting the upper TL (just a bit higher from here), and bring U.S. markets with it. Only a breakout stays out above 7820 would negate the read and bring in other patterns in other markets to play.

Edited by iloli, 24 April 2013 - 04:10 PM.

[iloli way]

OK, if you think that wasn't convincing enough, let me add Japan 225. My last post of April 8 Japan 225 showed that it was shapping up to move in this ABWedge pattern.



What happened since? See next updated chart, with arrows pointing out the follow-thru moves since then added by the market, prices following the ABWedge pattern faithfully.


So again, the next legitimate move should be DOWN after hitting upper TL (bit higher from here), and bring U.S. markets with it. Only a breakout stays out above 14000 would negate the read and bring in other patterns in other markets to play. Pattern talk is a bit boring, unfortunately (or fortunately if you know how to swing my lines) is the robot traded market we are in today.

[iloli way]

btw, live trade of this bounce on ES (i'll post separately) was confirmed by the TWO between 4/15~19 live streaming too.

[iloli way]

Before turn in tonight, took a look at chart, the 1min have been climbing all evening. Right at running up against the upper TL showing no slowing ahead, POW !!!, got smacked down 75 pts. I zoomed in a bit for you to see. No idea how that could even possible, but hey not my job to ask why... so far so good, showing a broadening top look, will see, good night night monkeys, no all-nighter for me today.

[iloli way]

Ok, my DJI long target is near. Two days ago:



ES +- equivalent:

[iloli way]

I said DAX 7820, J225 14000. Now trading at posting time 7825 and 13983, despite earlier huge upthrust. I'll have to see day's close later tonight, and monkeys play for more. The latest pull back was no surprise within the context.

Just to remind, it's PRECISION TIME again to call up the thinnest line and connecting precise origin points (8100, 8042) to see where price really stands. Whereas more "balanced" chart earlier was to connect the most major points and ignore the single outstanding point. See for yourself what the market is trying to say:

[Rogerdodger]

Great work. I've always found it interesting to see how often lines seem to predict future price action. Maybe they are self-fulfilling simply because traders are watching them.