ES 11-25-08

daily: 1073 / 736.25
60m: 910.75, 899.50
15m: 916, 884
5m: 875.50,

need to retrace a bit before we get any downside projections

fast what do you mean "on paper I am writing the 7th failure"?

ill cover one at 847.50, hold the other

I write down the failures and see how far I have drifted and see whether it was because of not sticking to my plan or not. I have done everything right today and I wrote down my 7th failure a while ago.!

oh ok thanks for clarifying...dont know what your trade setups are, but kools the only one that can make $ everyday of his life...the rest of us have "bad days"

lowering stop to 852.00

so far so good, plus 3 on the 847.50 exit.. covering the other at 845.50 cause i have to leave soon!

BINGO, AND UP 10.25 O/N THE DAY...Told ya id get em back!

up only 2

rough day for me - but at least i am positive now

Near term proj would be 838.75 or so...

Thanks VO. I haven't been working with Kool's cycle projection tool much and was experimenting this PM. I was using the cycle highs and lows and using 1.618 from the end of the cycle. In my notes I had Kool saying to use 2.618 from the beginning of the cycle. Using the 1.618 I had a cycle H to L of 17.5 when fibbed by 1.612 gave me a 28.25 point expectation which added to the cycle low of 833.5 gave me a 61.75 target. For that second cycle projection that negated I had 61.5 - 47.25 = 14.25 * 1.618 = 23 + 847.5 (cycle low)= 870.5 target. That's the one that didn't hit at the end of the session. Maybe I am oversimplifying it.