A short term scalper by nature, i usually look ahead only a few minutes. It can be useful however (and fun!) to look at a larger picture scenerio from time to time.
Originally posted by koolblue
Yes Red,as we have seen from the work of VOwater AND P.T,.emini. all of the fib extentions can be turning points. Iuse the 'golden mean' ratio because it has served me well. The other ratios may give a pause or small decline but im such a short term little scalper that i have found the ratio i use most effective for the small scalp trades i generally take,eliminating most of the minor moves and 'noise' if you will.
I'am not in the forum as much and haven't kept up; that was the
reason for my question.
I have watched the proj. method of Steve Nison / Allan Farley & KoolBlue. When I get a proj. area from three different sources
Thanks again for all your time and effort. C-YA
I never got into the weekly chart but it would be calling for a peak this week, instead of early next week like the daily chart does.The point is ,this appears to be forming a bear flag(a-b-c-d-e-) and if so all we have to do is go up now for e. If we do after the fed acts wed,then 950 may cap the markets. if we go up a little slower, and take till next week then my 980 could come in to play. Either way, its time to take profits on any stock positions , in my opinion!