16 replies to this topic

[iloli way]

(continue from IS TOP IN? part 1)

Every moves on Friday were precisely BUMP & RUN between my lines. The last 15 min of ES, we saw extra urgency of said 'desperation bounce' pushed overboard to BO above the Daily bull flag...




...but short of BO the 5-hr bear flag. Only a definitive close above the bearish flagpole base Blue line (the same as the top Yellow line in Hourly chart where my last BANG! will be), can negate the BEAR flag. That much room is allowed for a probable FakeOut of Daily BO.




So far, from the perspectives of the pattern and line respective value, I think price showed less respect to the Daily chart than to the 5-hour chart. It shows urgency of FULFILLING the 5-hour bear flag than VIOLATING the Daily bull flag trend line. We'll find out soon when futures open in 8 hours.

Edited by I Lo Li 愛樂利, 07 July 2013 - 09:44 AM.

[relax]

if you have the time, a gold chart with your lol lines would be much appreciated thanks

[iloli way]

if you have the time, a gold chart with your lol lines would be much appreciated

thanks

Sure.

These lines were posted here since way back.
9/12/2012



I do have a short in GLD when last line gave up. Now we are in between the bottom two lines, there's room for gold to fall and reverse in this "freeplay" (as in mechanics) zone. As posted in The Gold & Commodities Board

Which shows up in here as well. I'd not buy or sell NOW until one of the above or under line is violated.


I will/can not quote a fixed number unless it is a horizontal line in any of my calls.

Edited by I Lo Li 愛樂利, 07 July 2013 - 11:03 AM.

[fluid]

(continue from IS TOP IN? part 1)

Every moves on Friday were precisely BUMP & RUN between my lines. The last 15 min of ES, we saw extra urgency of said 'desperation bounce' pushed overboard to BO above the Daily bull flag...




...but short of BO the 5-hr bear flag. Only a definitive close above the bearish flagpole base Blue line (the same as the top Yellow line in Hourly chart where my last BANG! will be), can negate the BEAR flag. That much room is allowed for a probable FakeOut of Daily BO.




So far, from the perspectives of the pattern and line respective value, I think price showed less respect to the Daily chart than to the 5-hour chart. It shows urgency of FULFILLING the 5-hour bear flag than VIOLATING the Daily bull flag trend line. We'll find out soon when futures open in 8 hours.

Beautifully presented charts. I personally doubt the top is in.

[fluid]

To me it looks like a giant bull flag!

[iloli way]

I think price showed less respect to the Daily chart than to the 5-hour chart. It shows urgency of FULFILLING the 5-hour bear flag than VIOLATING the Daily bull flag trend line. We'll find out soon when futures open in 8 hours.

BINGO! BANG! RIGHT ON! Did not take long after open for the line to enforce another precision line-rejection.

Round 1! Bearflag won.

Edited by I Lo Li 愛樂利, 08 July 2013 - 12:22 AM.

[iloli way]

To me it looks like a giant bull flag!

Which is what my First Chart (in part 1) sez.

[iloli way]

Bears retreated, defense line extended, flag shape changed.

Round 2, Bearflag lost the battle, not yet the war!

Flagpole base is the final line for this War. Round 3 to come.

[arbman]

This is pure insanity to me, but this insanity may well extend to 1700-1720, mark a summer high and then come down crashing in fall... I agree the obvious resistance is at 1650 and I think it will be tested quickly from here...

[iloli way]

1720? Not so fast, arb. One line a time. I agree with the insanity. I think what happens next is, before hitting the Blue Bearflag Pole Base, the Bear flag upper TL will smack one more line-rejection, what bear thrust inside the bear flag should do... BUMP AND RUN a mini crash down to the lower TL. A "Rule of 4" touch to both bear flag TLs, then we resolve. Or, it can just BO both roofs to the moon. Who gives a dxxm what I think. Now... GO AT THROTTLE UP!