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ES 12-26-08

Good morning all! just sold 2@ the 15 min deadly projection of 868.50; Lets keep in mind however that there is an outstanding hourly projection of 871.25 yet to be fullfilled.
Good morning, Kool. I am a newbie here. Could you explain how you get the 871.25 projection? I get 873.21 from the bar at 12/24 8:30.
Morning.Molly...honestly i have to go back a ways to find it. It came from the hourly chart.
Wellcome to the mypivots family Molly! What time frame are you using?
I was looking at the hourly chart. I looked at the both at 8:30 and 9:30 on 12/24. One gives me a projection of 873.21 and one gives me 872. Sorry if I am totally wrong, this is still very new to me.
MOLLY, high minus low= difference. Difference times 2.618= number and number is added to the start of the move to get projection. SOME like to use 1.618 and add to the end of the move but its the same thing!
Got it, I didn't look back enough on my hourly chart to see 12/22. Thanks.
the 8:30 bar you refer to has a high of 860 and low of 856 ... 860-856=4 and 4x2.618=10.47, then 10.47 plus 856=866.47 the projection for that bar met at the close if memory serves.
well i was stopped out on my long position at 870.50 for a loss of 2 on each ,,now down 4 handles on the day.
im selling this 871 area
Here is something to look at...

Using Kool's cycle method plus a fib fan+retracement
we get a possible price lineup coming next week. This indicates that there could be a possible big move ie straddle might be a good idea to look into... But Kools cycle is showing a mini'low' so maybe this move would be biased to the upside and there is also an abc pattern before this still not negated...
This is something I just came across, throw some ideas out there what you think about it?

Click image for original size
2008 12 26 toschartsfibfanretracementpluscycletechniqueliningup