# Developments

Can’t get a better zoom, but here’s the deal.

If today closes down from whichever high would be final, this day would have a CAP print on it, as in CAPSIZE attempt.

Let’s talk NBEs first.

A No Break Extension is relative to the consolidation weight. It means that the price aka investment vehicle can move about on a station (middle is the purple arrow / line) about 46 pips in case of the EUR/USD without printing a valid break out (leeway).

The weight is calculated with a Choppiness Print going above 53 on the 15-min timeframe with 48 samples.

This finds the first such 15-min candle. The weight would be the half point.

`````` i=0;
while (i<200){
if (ChoppinessIndex(12*4,i)>53 && ChoppinessIndex(12*4,i+1)<53) break;
i++;``````

The railroad tracks are brought on by the lack of remaining energy and the need for the quickest possible consolidation on the fly to eek out a final push. I’m pretty sure there is a blog entry about this somewhere by the title of Railroad T-Rex or something. Knowing myself I always must put a twist on everything.

The coming correction would take price at the most bullish of scenarios to beyond the 40, but shy of 50% retracement area.

To anticipate the end of the pullback, you would be looking for an impulse bottom with an RSI2 divergence, but pay also attention to the 60-sample hourly stochastics. The correction would likely take the price oversold twice.

Now, let’s not forget about the embedding part.

Unfortunately, at the moment the 60-sample stoch is embedded to the upside. This means 10+ hours of overbought condition of the signal line.

``````if (i<20 && (iStochastic(symbol,60,60,3,3,MODE_SMA,0,MODE_SIGNAL,i+9)+iStochastic(symbol,60,60,3,3,MODE_SMA,0,MODE_SIGNAL,i+8)+iStochastic(symbol,60,60,3,3,MODE_SMA,0,MODE_SIGNAL,i+7)+iStochastic(symbol,60,60,3,3,MODE_SMA,0,MODE_SIGNAL,i+6)+iStochastic(symbol,60,60,3,3,MODE_SMA,0,MODE_SIGNAL,i+5)+iStochastic(symbol,60,60,3,3,MODE_SMA,0,MODE_SIGNAL,i+4)+iStochastic(symbol,60,60,3,3,MODE_SMA,0,MODE_SIGNAL,i+3)+iStochastic(symbol,60,60,3,3,MODE_SMA,0,MODE_SIGNAL,i+2)+iStochastic(symbol,60,60,3,3,MODE_SMA,0,MODE_SIGNAL,i+1)+iStochastic(symbol,60,60,3,3,MODE_SMA,0,MODE_SIGNAL,i)<180 && iStochastic(symbol,60,60,3,3,MODE_SMA,0,MODE_SIGNAL,i)<20)
|| (iStochastic(symbol,60,60,3,3,MODE_SMA,0,MODE_SIGNAL,i+9)+iStochastic(symbol,60,60,3,3,MODE_SMA,0,MODE_SIGNAL,i+8)+iStochastic(symbol,60,60,3,3,MODE_SMA,0,MODE_SIGNAL,i+7)+iStochastic(symbol,60,60,3,3,MODE_SMA,0,MODE_SIGNAL,i+6)+iStochastic(symbol,60,60,3,3,MODE_SMA,0,MODE_SIGNAL,i+5)+iStochastic(symbol,60,60,3,3,MODE_SMA,0,MODE_SIGNAL,i+4)+iStochastic(symbol,60,60,3,3,MODE_SMA,0,MODE_SIGNAL,i+3)+iStochastic(symbol,60,60,3,3,MODE_SMA,0,MODE_SIGNAL,i+2)+iStochastic(symbol,60,60,3,3,MODE_SMA,0,MODE_SIGNAL,i+1)+iStochastic(symbol,60,60,3,3,MODE_SMA,0,MODE_SIGNAL,i)>880 && iStochastic(symbol,60,60,3,3,MODE_SMA,0,MODE_SIGNAL,i)>80)){
``````

The daily stochastic is also embedded to the upside.

``````if ((iStochastic(symbol,1440,18,3,3,MODE_SMA,0,MODE_SIGNAL,0)>76 && iStochastic(symbol,1440,18,3,3,MODE_SMA,0,MODE_MAIN,0)>76 && iStochastic(symbol,1440,18,3,3,MODE_SMA,0,MODE_SIGNAL,1)>76 && iStochastic(symbol,1440,18,3,3,MODE_SMA,0,MODE_MAIN,1)>76 && iStochastic(symbol,1440,18,3,3,MODE_SMA,0,MODE_SIGNAL,2)>76 && iStochastic(symbol,1440,18,3,3,MODE_SMA,0,MODE_MAIN,2)>76 )
|| (iStochastic(symbol,1440,18,3,3,MODE_SMA,0,MODE_SIGNAL,0)<24 && iStochastic(symbol,1440,18,3,3,MODE_SMA,0,MODE_MAIN,0)<24 && iStochastic(symbol,1440,18,3,3,MODE_SMA,0,MODE_SIGNAL,1)<24 && iStochastic(symbol,1440,18,3,3,MODE_SMA,0,MODE_MAIN,1)<24 && iStochastic(symbol,1440,18,3,3,MODE_SMA,0,MODE_SIGNAL,2)<24 && iStochastic(symbol,1440,18,3,3,MODE_SMA,0,MODE_MAIN,2)<24 )){``````

& at the same time the Weekly Stochastic is embedded to the downside, close to losing this with the coming weekly print.

``if (iStochastic(symbol,10080,18,3,3,MODE_SMA,0,MODE_SIGNAL,i+2)<24 && iStochastic(symbol,10080,18,3,3,MODE_SMA,0,MODE_SIGNAL,i+1)<24 && iStochastic(symbol,10080,18,3,3,MODE_SMA,0,MODE_SIGNAL,i)<24 ){``

…and further complication is that the long term oversold level is at 1.0732 – the blue bob with the 20% label before it.

& price is a stone throw away from printing a God Day one. If this falls back, but not too far away (similar to the drop that was about 110 pips earlier) and comes back, this would mean a major break out having tested the oversold neckline twice. The biggest moves occur from leaving the long term oversold / overbought condition, i.e. the first target would be the 50% line, the second is the other side of the range (opposing 20% neckline).

One last piece of evidence is for the Bears, and this is the head and shoulders being drawn from the 9-day EMA. See the sequence below of 3.9x, 4.5x and 3x for LHR.

Bye now.