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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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45 mins to RTH 18 Dec 2008

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sitting @ 894.50 for a long
94.5 is bottom of singles we had coming into today between 94.5-97. 93 is -50% IB extension
With the Fed making money free (0%)i.e. borrow 50 million and pay it back with another borrowed 50 million ad infintum, it won't cost you a dime, it seems volatility will leave the stock market and futures and head for the currency mkts with the dollar tanking. The euro today is going ape sh&*

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Originally posted by myptofvu

sitting @ 894.50 for a long

no fill cancelled trying again 887:50 long

out 889:50
l @ 86
1 off 89 stop 87
Short from 896.00 x 2 added 2 more below out at 888.00 23 pts.
any word on what caused that 10 point drop?
GE downgrade
Originally posted by BruceM

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

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

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.
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