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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.
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45 mins to RTH 18 Dec 2008
,
crap...dead man walking
flat
quote:
Originally posted by prestwickdrive

bigs -32250 now and haven't net bought off of 73.5


bigs -32600 now
ugh...I hate it when that happens
bigs buying - now net -26400
s 1 85.75 for 84
Hi BruceM:
Yes, failed Grails will signal a larger move in the opposite direction....One filter I use for entry is the 3-10-16 MACD: If the fast line on this oscillator has re-traced back to zero before the price has re-traced to the 20EMA, then I will try to enter a bit beyond the 20EMA. With that said, be aware that I have missed several entries by a tick or two by being too conservative with this entry.
flat @ 84 thought 127.2 would hold it


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Actually, there is another 5 minute Grail in play right now, but I don't think it will get a full re-test.
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.