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ES 12-29-08

GM Traders

Daily PP: 867.75
Weekly PP: 871
POC: 867.50

60m: 877.50, 905 / 849.75

globex gaps: 862.75, 861.75, 861.50
short 1 from 860
nice wallpaper =)
basic question ask to when to initiate price projection. Is it from any significant candle high/low. In downtrending markets does one only focus only touches of the upper BBand and vice versa for uptrending markets? What about choppy consolidation? Either highs at the upper Bband and significant lows at the lower BBand? Thanks.
Isuppose thats one approach,Einstein, looking at the technicals, but i more rely on price projections from 'significant highs or lows!
i cant tell you how many times ive had a sucessful trade when looking at the technicals ,only a madman would have taken the trade!
flat 58.25
failed new low would be nice here
Kool, is i understand you then, you are saying if you have a significant high candle with charts aligned in overbought you may go short regardless of the present trend?
yes if i was confident the projection had been met and i didnt have any higher ones nearby.
out +2 based on shorting a retrace in this downtrend
just noticed it is up 6.66%! evil number