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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
Originally posted by BruceM

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