The Confession & The Secret

First real Perimeter Swap test coming up as price reaches the first 127% zone:

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Market paid some respect to the first 127%, failed to move below the 50% retracement of the thrust that caused the strike on the initial intra-M1 127% expansion level and then moved above 127%. An indication that the primary move could be underway.

The next 127% test is now underway:

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Market showing minimal respect to the second 127% test at 3679 and continues to show upward expansion for now and has provided NO downward thrust upon which another 127% expansion test could made. This typically indicates a new M1 Bullish market.

Let's see if it holds.

This now sets-up a larger 127% test at 3712.

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And, just like that, the EURUSD sets up another M1 127% expansion zone with a recent M1 top at 3700.

A move down to the 127% expansion level, would effectively kill the M1 Bullish move and re-establish the M1 Bear market.

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A dual 127% expansion test now underway: 3708 at the top and 3468 at the bottom. The winner will establish or re-establish the M1 market.

As long as this market fight takes place away from my Line, I'm happy.

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There's a Cat fight going on at the M1 level.

Of course, as a Line trader, I am not allowed to have a "Cat" in the fight.

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Bear Cat landed a quick right hand! Let's see if the Bull Cat can throw a right hook.

No counter punch from the Bull Cat and he looks like he might be going down. Can the Bull Cat muster a Rocky moment.

Bull Cat taking a standing eight count.

Bull Cat strikes back with a 'south paw' (I had too) to the right jaw of the Bear Cat, putting him on notice that it ain't over until its over.

Note: M1 Gap at 1515 GMT. Well, that gap will get filled to the downside, sooner or later. Also note how potential upside trend line on M1 was formed by failure of Bearish 127% test. If that pattern holds, it will turn into an M1 Harmonic CD leg to the upside.

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M1 gap filled to the downside at 1522 - 7 minutes later.

127% Bearish test just struck. M1 market swings back to Bearish, if 127% is respected by the market.

Again, market pays some homage to to 127% by slowly halting its decline.

Market has been expanding on a 127% basis to the downside for the past 1 hour on the M1 chart. It is currently failing its most nearby 127% bearish test. So, this could be the starting location for a bullish stage on M1.

That last M1 swing was the first 127% bearish failure since 1438 GMT. By the same token, the nearest M1 127% bullish test has failed as well. That means M1 price is compressing - an M1 break-out is nearby.

Another failed M1 bearish 127% test and more M1 price compression.

A new M1 bullish 127% test that passed. M1 is initiating expansion upward.

New M1 bullish 127% test underway... its 127% bearish test level is below the original V-Trigger.

That test just failed. M1 guiding bullish.

127% test intervals are becoming very tight - another indication that M1 is about to move.