GM Traders
Daily PP: 867.75
Weekly PP: 871
POC: 867.50
60m: 877.50, 905 / 849.75
globex gaps: 862.75, 861.75, 861.50
KO
koolblue
Rep: 48,651
Posts: 16,032
see EINSTEIN, I SOLD YOUR 'DOUBLE BOTTOM' EVEN THO WERE EXTREMLY OVER SOLD COVERING NOW!
EI
einstein
Rep: 170
Posts: 167
failed patterns are often good. could u explain how and why u entered? based on 1 min chart?
KO
koolblue
Rep: 48,651
Posts: 16,032
OH , I SEE WHAT YOU MEAN, ENSTEIN. Not always, many times i enter a trade after the projection has been met cause im expecting a bounce and the look at projections to see how long to hold it! As i said before its a matter of perspective... you have to determine how long term of a trader you are !
KO
koolblue
Rep: 48,651
Posts: 16,032
GETTING BACK TO THAT TRADE, NO TECHNICAL ANALYST WOULD HAVE TAKEN THAT TRADE! we were simply too oversold! but when 857.25 projection was exceeded i knew something'bigger ' might be occurring(i e: a lower projection on a larger time frame)