ES 12-18-2008

Good morning to the USA, good evening in Asia. As of now, 45 min before RTH. It took a steep plunge to the pivot at 903, all in less than 10 min.

As a short term scalper. Lets see for the first 3 mins to confirm EMA3 is on top of EMA9, 3 green candles with bearish resistance with MACD pointing up. Target 4 points with SL at 3. Trailing stop change to 5 when price changes to 3.

Have a profitable day everyone.
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flat...will try to find some way to get those 01.25's from up here

Matching Double Bottoms at 902 ?

Note the range up to 904, followed by the breakout...

FOR YOU BRUCE ...YOU SAW THE 1 MIN I LOOK AT FOR TRADES, THIS IS THE 5 MIN I SOMETIMES REFER TO....

note the avgs ... and the 'hammer ' which projects about 907.75 i believe

the avgs are of course 905.50

s 05.50

if we break above them ..and i kinda think we will in time the proj 908 is a given at least!

see how much trouble its having? thats why i say 'never the first time!'

note also the cycle on the 5 min chart 2 lows at the end ... they give peaks around 12:30 and 12:50

whether they're good shorts or not depends on price proj and of course the tech. indicators around those time zones

quote:

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Originally posted by BruceM

Thanks Vo that's what I had imagined ...so you can use price projection failures on the lower time frame to get you going in the direction of the larger time frame......

quote:

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Originally posted by VOwater

and yes bruce the bigger time frame projections do indeed carry more weight

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speaking of failures....*cough *cough

(im alluding to myself)

yes yes i need more confidence but poking fun at myself is better than seriously saying im a tool.