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ES 12-16-08


GM Traders

Daily PP: 873.75
R1: 891.50
S1: 854.75
POC: 868.25

60m: 903.50 / 848.50
15m: 903.50

overnight globex gap @ 874.25
Vo, do you hand draw that or do you have a tool or program that does that?
It is the fib extension but the triangles that are on your chart I am unfamiliar with an wonder how they appear. Do they appear after you have drawn your extension?
Margie, I used the fib trend based price extension line tool...I clicked on A then B then C and it auto put my projections in...I then drew a trendline from B to D and A to C to be able to show the symmetry

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AB=CD says that price should come back to A...I'm not sure thats in the cards but we will see
Does anyone know the answer to this?

The 10:49-10:50 price proj. gave 885.25 but where do you take the next projection from? The 1st, 2nd or 3rd top?



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took 82.75 and trying to hold for above 79 area...we are trading back into the highs of the high volume magnet as I type
Thanks Vo.
naturally you take the first, which will be good until price is breached or target is hit. Now the question is if price is the same does that count? I say no, however, kool may disagree. To me price must be taken out to invalidate a target.
quote:
Originally posted by VOwater

naturally you take the first, which will be good until price is breached or target is hit. Now the question is if price is the same does that count? I say no, however, kool may disagree. To me price must be taken out to invalidate a target.



Thanks VO!
ugh i hate low volume...
Thanks for all the charts and goodies today folks........I enjoy it all but today I really enjoyed Prestwicks updates on what the "super powers" where up to...cool stuff