ES 12-11-2008

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Originally posted by pt_emini

feng - look at the chart I just posted. No oscillators, no moving averages, no color, no candlesticks. If price breaks that blue line at 876.50 our projection is up to 884 then 892 above that. This ABC trade setup is as simple as that. I would also note it is forming an inverse head and shoulders pattern.

For MP purists, the singles are at 884.25. Singles are a natural resistance level MP traders will fade on first touch. Above that resistance price, we are looking at an 80% rule buy signal for a 906 target.

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Originally posted by myptofvu

Feng,

Heres a snapshot showing a price projection on a 1 min chart, the 1st line is the 1.618 the 2nd is the 2.618. I'm looking for the distance moved b4 a retracement then measure that to get the projections.

I find it's important to find the beginning of the move to take your measurements from.

Also this is a pretty clear example but they're not all that easy to see, on the more difficult ones it helps me to imagine what it might look like on a 30 second or 15 second time chart to take my measurements.

With some practice I think you will easily see how to do this and that Koolblue has really come up with something good here.

Click image for original size

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Originally posted by wsjalerts13

Kool, VO, Pt, Mypt and others -

How do we project when the trend will change direction ? Do we take the latest swing high and low and plot the numbers against them or/and look at will%r, bb, stoch for overbought/oversold ??

Thanks.

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Originally posted by myptofvu

Feng do you have Skype? it would be easier to talk to you...

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Originally posted by feng456

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Originally posted by myptofvu

Feng do you have Skype? it would be easier to talk to you...

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i had skype then i uninstalled cuz it had lousy connections. but i think my account may be still active. whats ur username or whatever?

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