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ES short term trading 4-23-10

Good morning. still looking for that E wave to 1196 (or even lower3-4 handles!). Heck, i still want to see slightly higher to be sure D is complete. I also have 1212.25 as a possibility on the upside if we just continue higher. (wave 4 could also have completed at 1186.25 making a flat.). Monday the 26th looms just ahead. It certainly looks like Thurs. gave us a great low for the late Friday run up into bullish Monday. heres a short term look...
Click image for original size
CHOP CHOP CHOP stay in what ever your position and exit at profit
flat last two at 1207.50 and looking to short
What is Dow doing
should test least
s 09.75 and keeping it small..they already came back and tested ON
fix the gap at 11030 for Dow
what is a "golden candle?"
The 10:05 is the golden short candle
market is acting weird. obviously like it clearly wants to break out but then when you look at individual stuff, ie....nflx, aapl, etc....seems way overbought. i'm a little skeptical on how much legs this has to the upside if any.

i had a great long at 1202 but screwed myself b/c i forgot to change my default target of 5 pts.
Originally posted by ak1

Also on a 5 min chart look for a golden candle that is atleast one tick away from the open or close of the first 5 min candle to enter short or long
Originally posted by redsixspeed

using the move from yesterday I have a measured move to 1218.25
this is my highest projection

Yesterday in the above quote would be refering to Thursday.
The projection of 1218.25 is still on the radar as we have not had a pull back yet that would cancel that projection..imo