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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
,
correct,Bruce
chart is 1m candles
s @ 3.25
miving stop to 904.75....probably a bit tight here
Thank you for the email kool....I appreciate it.
man, the 5 min proj gave 901.25 and thats dead nuts what we got! the funny thing is after i shorted 908.50,i put on my bracket(stop and exit) and got so busy doing some e-mails i wasnt even watching the thing dive! you know me ..i would have bailed at 905-6 for sure..LOL so i have all of you to thank for that!
quote:
Originally posted by koolblue

man, the 5 min proj gave 901.25 and thats dead nuts what we got! the funny thing is after i shorted 908.50,i put on my bracket(stop and exit) and got so busy doing some e-mails i wasnt even watching the thing dive! you know me ..i would have bailed at 905-6 for sure..LOL so i have all of you to thank for that!


repayment for good deeds done
quote:
Originally posted by BruceM

on your chart Kool is that ONLY a time projection...exclusive of price?

after i entered i looked at the 1 and 5 min chart and put my order in just above the 5 min proj. then got side tracked and made a killing!proj was 909.75high and 906.50 low on the 5 min bar=901.25
PURE LUCK! NO DOUBT I WOULD HAVE RUN EARLIER!
gheesh do I loosen the stop because of those matching 01.25's.......?
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.