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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
got that low here too KOOL - I thought I was off :)
I dont like scalping. Prefer to hold for 4 to 6 points if possible. So using some of your logic I see the 13:05 candle low on 5 min chart as significant. Using a 123 projection has 161% near 858 which also corresponds to a 62% pullback from recent low swing. That might be a reasonable short. Comments welcome.
that projection was just negated.
thanks again kool. I appreciate your patience. In the 15 min chart I see how you projected the low but dont understand why you chose that interval since each high candle had significant retracement. Was there anything wrong about just using the 645 high candle? (Obviously in retrospect the projection would have been too high).
l @ 54.25
EINSTEIN. CYCLES ARE COMPLETELY INDEPENDANT OF PRICE PROJECTIONS . All a cycle is telling you is a timeframe for a potential shorterm bounce. price projections tell you at what price zone an expected bounce may occur! and i did use the 6:45 candle for the cycle! its the other peak i was refering to!
1 off 55.25
1min proj here was 855.50...see it? that would be the 'bare 'minimum bounce expected!
just noticed it is up 6.66%! evil number