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ES 1-14-09




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double top at 205.8 retrace of primary trend (down)



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Short entry off 161.8 and double top at 205.8
quote:
Originally posted by BruceM

nice one VO....I went heavy on the end.....as usually if I have to add a third time...so I'm trying to hold 3 contracts.....I want the mid 880's........obviously not today....Decembers VA low was 854...so we need to see a close above that first...highest volume sits at the lows so I obviously need that to be capitulation instead of price wanting to retest it again today



BruceM,

Why haven't you joined us in the new room?
Sound MYPTVU....I have a 7 year old and a two year old running around here some days....so it's hard for me to shut out distractions......I'm afraid a more active room with sound would be too much for me.....nothing personal!
that double top was right up into the single prints PT
how often do we close beyond s3 which happens to be 832.50 today?


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Vo, what is the minimum retracement level you will look at before taking a trade on the close of your time frame? i.e. If you are looking to go long but price only retraces 38% of the a-b leg will you pass..? I like the trendline breaks and the minimum 50% ala Kevin Haggerty when I was trading those
still is air up at that 47.50 and Ym 8235..can they do it today?..not good that the singles players couldn't get new lows on that first try..
a nice fade to try for will be if YM fills its singles and not the ES or if ES fills them in but not the YM....
quote:
Originally posted by BruceM

Sound MYPTVU....I have a 7 year old and a two year old running around here some days....so it's hard for me to shut out distractions......I'm afraid a more active room with sound would be too much for me.....nothing personal!



The Chat room and Voice rooms are separate from one another. You could be in the Chat room without opting for the Voice room.
quote:
Originally posted by Maria

Nice charts that hit the spots ptemini. How do you trade them?

TIA



That is a short at the 261.8 Fibonacci extension level (845.75).