Bounce off the 100 SMA — If we get a bounce off the 100 SMA, we will have taken in 3 of these levels, (23.6, 38.2 & 50 %). If all it does is go down and bounce and then come straight back it will be 725 pips the way I set up my trades. Sunday ...

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1.3900 & 1.3738 — These levels should be visited again and possibly this week. They are marked in light grey and one is well below the 100 SMA. This could be a gold mine also.

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Fib levels — Here is how it should work. This is a pull from 5/4 thru 5/15. The ideal trade would be to hit each level and then return to the high from where you drew your top Fib level, however, if the price only hits a couple and continues ...

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Channel — By the way, the pair has moved back into that 4 hr channel once again.

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The Trades — I have been asked for more info from some people so here goes. Now, we could be part of the 80 % of all traders that fail and try to counter trade into the face of this monster trend, orrrrrrrrrrrrr...... we could grow a brain and ...

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Fib levels — It is looking like we may have a top here at the 4050 level. Sooooooo.... I pulled my Fibs from the last 100 SMA touch. And the major trendlines as they would be for the 15 Min TF. MK

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Good Morning Ev. — Got some info for anyone following my technique. Stay in touch as I will be posting through out the day. The first chart shows how closely the UTL is following the 100 SMA. There are a couple ways to trade this, some a hell ...

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Chop city — I am outof here before I do something stupid.

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Depends — I am not saying that that is what happened, just meant that it could be. A 40-50 pip move would remove a lot of new traders from the market before continuing.

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So far so good — OK, We had the Bull move to remove short stops, lets see what happens. This is why I hate it when someone says use tight stops. No such thing as tight stops with a successful trader. Just my views.

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Memorial Day — One more thing to remember, there will be a bunch of people leaving the market this weekend and vacationing. Just a thought. MK

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Twin Doji — Check out the 15 min chart, a picture is worth a thousand words. MK

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Example — Here is an example of one of those selloffs. This happened April 24th.

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Sell off — The absolute only reason I am still here is that I have seen huge selloffs after moves like the one we just got. I am waiting to catch some flies. I have seen these pairs drop 200-300 pips in less than an hour on Friday around ...

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1 Hr — Nice little bearish pin bar on the 1 hr. May make another run at the recent high. MK

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1.4000 — If this 4 hr candle closes below 1.4000 I would be looking for corrections. Price has strayed almost 190 pips from the 100 SMA on the 15 min. I have never seen it much farther than this before. I have seen it 180-190 but retrace soon ...

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Top of channel — We have finally reached the top of the 4hr channel. There is a good look at the total up move on the Daily also. 200-300 pip selloff would not surprise me today, but if it happens, it will be late morning. MK

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Friday — FYI: If you stay around till 11 or 12 Noon you could very well see an avalanche like selloff. I will be looking for it and have seen it before. MK

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Weak — Pair looks like its getting weak. I will stay away from this. MK

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Twin spins — 15 minute twin spinners and up we go. MK

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