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ES 12-18-2008


Good morning to the USA, good evening in Asia. As of now, 45 min before RTH. It took a steep plunge to the pivot at 903, all in less than 10 min.

As a short term scalper. Lets see for the first 3 mins to confirm EMA3 is on top of EMA9, 3 green candles with bearish resistance with MACD pointing up. Target 4 points with SL at 3. Trailing stop change to 5 when price changes to 3.

Have a profitable day everyone.
Click image for original size
45 mins to RTH 18 Dec 2008
,
GM Traders

Daily PP: 902.75
R1: 918.50
S1: 887

POC: 905.25

60m: 928 / 873.75
15m: 916.75 / 903, 879.50
fasten your seatbelts!
opening right into the key support,,,hoping for a slight pop up of some signal to get short

edit...should have read key Resitance....
trying at the 06.50...the worst place for a short
short one from 907.75,3.5 stop
LEI and Philly Fed at top of hour
trying for 904 area
out at 904.50,plus 3.25, up 8 and change on the day
127.2 = 98.75, 161.8 = 96
singles 894.5-897
quote:
Originally posted by BruceM

Thanks Vo that's what I had imagined ...so you can use price projection failures on the lower time frame to get you going in the direction of the larger time frame......
quote:
Originally posted by VOwater

and yes bruce the bigger time frame projections do indeed carry more weight





speaking of failures....*cough *cough

(im alluding to myself)

yes yes i need more confidence but poking fun at myself is better than seriously saying im a tool.