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ES 12-26-08

Good morning all! just sold [email protected] the 15 min deadly projection of 868.50; Lets keep in mind however that there is an outstanding hourly projection of 871.25 yet to be fullfilled.
this was my original target area and all timeframes are overbought. 5 min projection from the high at 871.75 to the low at 869.50 gives a target of 865.86. so if lucky ill exit above there! valid unless 871.75 is touched again!..short from 871.25
well, technically speaking 871.75 was touched negating the 855.75 projection ,but ill keep it in mind anyway for now . still short from 871.25
it appears the move from 871.75 to 870.00 may be the new short term proj. ...867.25 ill hopefully get to exit around 867-68...time will tell!
Morning traders- hope you all had a fun christmas day
Welcome to the forum Molly !
the 1 min avg(54 exp. m a ) and the 5 min boll avg(15 exp. m a ) are both around 870.50 so moving below them greatly increases the odds in my favor!
Molly, you gettin all this? This is how my twisted brain analyses a trade!
cycles say i got the chance of a mini low around 8:46 and another possible around 8:49-51
...hoping for a bounce at the open to let me into a short up here without chasing price down... optimistically offering 782.25 to start my campaign.
Here is something to look at...

Using Kool's cycle method plus a fib fan+retracement
we get a possible price lineup coming next week. This indicates that there could be a possible big move ie straddle might be a good idea to look into... But Kools cycle is showing a mini'low' so maybe this move would be biased to the upside and there is also an abc pattern before this still not negated...
This is something I just came across, throw some ideas out there what you think about it?

Click image for original size
2008 12 26 toschartsfibfanretracementpluscycletechniqueliningup

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