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Strategies & Market Trends : Zman Market Timing
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To: Fintas who wrote (14924)10/19/2017 7:50:16 AM
From: Bull RidaH  Read Replies (2) of 15903
 
Hi Fintas...... The s-t price objective of 2563 or so on the futures and the line in the sand at 2572 was based on patterns formed on the current hourly futures chart:


The smaller symmetrical triangle between the 9th & 11th of Oct had its own upside breakout, which targeted 2561.50 for a reversal, with all subsequent action to that 10/11 breakout creating a "bull-trap". More importantly, the megaphone pattern beginning on the 16th needed to see a 3rd touch of the upwardly rising line to activate the downside reversal. That line was tagged just below 2463, which spelled game over for this bull move. So three separate patterns were predicting the reversal in the 2460 area, which gave me confidence to stand toe-to-toe with Muhammad Al-Wolanchuk and not flinch at his jabs and left hooks. Futures are now sliding fast... the reversal has taken hold... and Don's knees buckled when he woke up to futures down 15. The announcers are warming up for the chorus that will soon drown out the airwaves when futures are 50 off the highs.... DOWN GOES WOLLY!!! DOWN GOES WOLLY!!!

In reality I suspect he's savy enough to have already reversed his positions, based on his mountain of work. Meanwhile Zman hits yet another turn right between the eyes, and will have his long-term target and then some within the next year or so. What's the 97.2 VB?
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