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Candle Pattern


ES 15min. @ 8:30 bear harami / 9:15 bear engulf / if we
close above could be a further move up
Red uses a box. I look at the Hi-lo.

The box aspect is very good in a trending mkt. The mid pt of the box down were 1155 & 1137. So I was lkg to get long. But the daily 1-2-3 top is a resistance on the 1st time up.

Too many trades forgot about my time measurements....maybe that's why missed the short at 1174.75 which was just below the #2 pt ( 1176.75) on the daily...1-2-3 top #3 (1207)


Measured move: Should really be taken from the daily chart after the pullback. Lo: 1057.50 Hi: 1174.75 Pullback: lets say 1116.00.

Right now low is 1123.75 ( ANYONE remember 1216.75-93 pts = 1123.75!!!. Mentioned it 2 or 3 weeks ago, suppose to happen frm 1223 area. Did not think it would happen twice!!

1174.75-1057.50= 117.25. So, 117.25 + 1174.75 = 1292 is target 2. The target 1 is 117.25 + 1116 = 1233.25 the conservative one. Right now the low is 1123.75 + 117.25 = 1241.

See how the 1232/1242/1270/1283/1320 are numbers I was mentioning 3-4 weeks ago. I'm expecting these numbers to be like a domino effect.

If goes below 1057.50 then MM invalidated.

1091 is a key number. A trader mentioned 1091 would happen from 1216.75. He got 1091 from P & F charts...I did not believe him. Now his P & F charts point to 1275.

I come up with my own numbers but when better traders also come up with the same then you tend to be on the right side.NO guarantees.

The daily triangle/pennant has 1320 top 990 bottom.

1126.25 is the 50 the Key to the treasure.

They are working on the 957.50 to 1216.75..draw your charts.. I use my ratios. You can see 1119.50 and 1139.75 are important numbers on a daily close.1128.75 and 1130.75 are important daily closes for now.
O.K.

To many #s for me. The rules I trade with must be different.
I use the RTH on globex as well. The 1124.25 was taken from
the RTH. I posted 24hrs. ahead of time as you see in this
topic about the measured move....Reason


Three key #s had been taken out @ the top so I was looking
for a move to the downside. I also posted today, I thought
more downside to come.

BTW, the 1219.75 on SPX and 1216.50 on ES are also measured
moves. I was also looking for a turn at that area. These #s are
inverted so a move back up in that area is possible.

So lets take it a step further; May 6th....1057.25 is a measured
move in the ES..it stopped at 1056.00...
I'am not being a smart a**. Just posting what I saw..with
the rules I trade...
One more thing.....the highs and lows of the market.
From the first day I started to learn about this trading
business I ask why did it stop at that point. I mean how
many people are trading each day and the market just
stops and turns.

Now look today @ the low, spot on the MM. NO it don't
happen this way all the time, but if I have an idea about
what might cause a low or high, the fear factor is less
[
Click image for original size
mm
6/1/10....6pm/6:05pm est /5min. bullish separating line
Originally posted by redsixspeed

6/1/10....6pm/6:05pm est /5min. bullish separating line


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Held as the ONL...lol
It ain't where you are its how you got there.

Two people have the same weight 120 lbs....One got to 120 by losing
the weight, the other got there by gaining the weight...SEE..



In the market you are at a { s/r } area...how did you get there?? Makes
a difference if you are thinking short or long
Originally posted by redsixspeed

It ain't where you are its how you got there.

Two people have the same weight 120 lbs....One got to 120 by losing
the weight, the other got there by gaining the weight...SEE..



In the market you are at a { s/r } area...how did you get there?? Makes
a difference if you are thinking short or long


HIM SMART ... Zen Koan!
Click image for original size
zenkoans
Originally posted by redsixspeed

It ain't where you are its how you got there.

Two people have the same weight 120 lbs....One got to 120 by losing
the weight, the other got there by gaining the weight...SEE..


In the market you are at a { s/r } area...how did you get there?? Makes
a difference if you are thinking short or long


Not sure if you're talking about the same thing but this sounds similar to an example that I sometimes give where two traders enter a trade at the same time with one unknowingly buying from the other who is selling. Both traders end up making a profit. Seems paradoxical but it isn't if you consider that they both have a 1 point target and a two point stop and the trade goes 1.25 points in one direction before reversing to go 1.25 points in the other direction.
I don't trade with MAs ... but recently I started looking at them .. I have set up a quad chart with different time frame of MAs .. Today at 11:30am et. all four MAs came together and in fact price hit them about the same time .. I just got started with this so I'll post what I see from time to time .. looks good so far .. My intent is to use them as a confirming tool not a primary ...