ES 12-24-08

GM Traders

daily pp: 864
POC: 863.75

60m: 905 / 849.75, 830.50

globex gap = 859.75

I can see that the 5minute projection is the same as yours though....

quote:

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Originally posted by PDQ

Pt, I notice that you project from the re-trace level instead of the point of origin....How do you decide which to use?.......Or, is this simply used instead of going to a higher time frame?

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I am following VO's leadership on this, as this is how he is drawing his charts. The projections using this technique seem to be working well.

Also, the Fibonacci Extension tool is designed to use 3 points, with the 3rd point being point C ( = the retracement endpoint ).

PDQ you need to go to trading strategies section of this website and study the little a,b c's thread.

im not a believer on the upside just yet! unless we go past 64.75-65

Happy Holidays to everyone. Got my 10 pts, that just makes mypto's day....lol. See you possibly on Friday.

Right, that's how I always used this tool, but when using one bar for a projection, you can add a 261.8% level to this tool and then use point one and point three as the same point. This seems to follow Kool's instruction about adding 161.8% to the recent swing in order to arrive at a new projection. Thanks!

see whats possible gang with a little 1 on 1 mentorship from koolio!

quote:

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Originally posted by pookster

Happy Holidays to everyone. Got my 10 pts, that just makes mypto's day....lol. See you possibly on Friday.

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Bitch

What'd I tell you guys...ROFL

Thanks Kool - I've studied everything on this site.....just trying to put it all together now....

Thanks Kool....Speaking of Santa, I need to run....Thanks for all the great information and everyone have a great Christmas!