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ES 12-3-08

Daily PP: 837.50
S1: 824.50
R1: 862.25
Weekly PP: 858.50

POC: 834.25

Daily: 1128.50 / 732
60m: 874.75 / 824.50, 808
15m: 857.75 / 807.50, 805.75
5m: 825, 822.75, 816.25
Originally posted by palmer

Well Kool we did make a new high over 851 maybe this is the peak today.

Palmer , i never said it would be 'the peak' just that i would be surprised if we see it and wanted to sell it. And it certainly was good for a decent decline . i never try to pick'the' top or boyyom cause i have no idea what that is .. and it doesnt matter to me. I just try to pick where i nelieve the market will bounce.
For instance the daily peak today(if its a peak at all) just means i expect downside for a day or 2 at least.
wow! YOUR CHART SAYS IT ALL. VO! and to think i have to sit here with my calculator to get the same thing! LOL
1 MIN AVG IS 841.75, SHORT ONE AT 841.50, 2.5 STOP
Kool i'll answer your ? about the entry in a sec. I have to reboot my trading computer...but if you remember I actually went long first and got stopped in that little range they had
OUT at 838.50 on a gimmee ,plus 3 there. watching!
OK VO, just trying to understand the theory better... love learning new techniques!
good trading today everyone

VOwater: thanks for the charts and helpful explanations
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