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
quote:
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:
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.