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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.
Click image for original size
45 mins to RTH 18 Dec 2008
ill re enter short at 907.75
this last lift started on news the White House is nearing a conclusion on the automakers bailout
s 06.50..concern is hour range run out on highs possible
new tick highs without the ES or YM...
dam, the 1 min proj was 907.50 and they cant over shoot 1 tick?... sigh..order cancelled...watching
both in key resistance zones...only thing I like below are those 901.50 doubles
next mini peak due about 10:54-55
bigs have been steadily buying since the top of the hour from a trough of -5k to +7700 now
flat at 6.50...not enough volume
thanks PWD
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.