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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
,
covered one at 903 to reduce risk...up 10.75 now ..looking for a 898 retest
s @ 3.25
1 off 2
1 off 2 stop be and flat
man, i was gonna cover at 901.50 but forgot i changed my exit order to 901.00...sigh ..still in
biggest volume so far is 900 - 902.50..so thats the zone to beat or use as attractor..this is like summer trading...
STILL PROJECTING (AND EXPECTING ) a retest of 898... at least!
was late entry and should have not protected trade so fast but would have had to worry about 6.50 H...not a great trade
covered 904.50..couldnt take a chance with my 898 already hit.
if they get 6.50 on close look for 9.75, then 12
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.