ES 11-25-08

daily: 1073 / 736.25
60m: 910.75, 899.50
15m: 916, 884
5m: 875.50,

need to retrace a bit before we get any downside projections

best is 57.75...that was a key volume zone that 62 - 64

lol bruce...I sold the 62.75 and only used a 2 pt stop...taken out to the tick

flat at 55.75 ...just in front of my next zone

I don't use hard stops but some days I sure wish I did......2 or 3 weeks ago I had a 15 point hit on a trade...per contract....that hurt

Ihave been reading threads since yesterday I think you guys are great!! Just wanted to say thanks for being here.

welcome bbrad63

I took that fall before the news on 2 min chart 8:54 and scoped up 3 pts not bad for me

I like the way they failed to break the OR highs...not a great sign for long players.....I would have liked it even more if I took the trade....not many full bars above the 10 am spike high

yeah bruce I think their going to fill gap

that would be cool..seems like it might not be easy though...see how we are getting below all the high volume bars....should in theory be good for shorts

Thanks VO. I haven't been working with Kool's cycle projection tool much and was experimenting this PM. I was using the cycle highs and lows and using 1.618 from the end of the cycle. In my notes I had Kool saying to use 2.618 from the beginning of the cycle. Using the 1.618 I had a cycle H to L of 17.5 when fibbed by 1.612 gave me a 28.25 point expectation which added to the cycle low of 833.5 gave me a 61.75 target. For that second cycle projection that negated I had 61.5 - 47.25 = 14.25 * 1.618 = 23 + 847.5 (cycle low)= 870.5 target. That's the one that didn't hit at the end of the session. Maybe I am oversimplifying it.