ES 12-16-08


  • 0
  • VOwater
  • 16-Dec-2008 at 9:22 AM
  • Rep: 133
  • Posts: 4,121
GM Traders

Daily PP: 873.75
R1: 891.50
S1: 854.75
POC: 868.25

60m: 903.50 / 848.50
15m: 903.50

overnight globex gap @ 874.25
  • 0
  • Margie
  • 16-Dec-2008 at 11:50 AM
  • Rep: 94
  • Posts: 364
Vo, do you hand draw that or do you have a tool or program that does that?
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  • Margie
  • 16-Dec-2008 at 11:54 AM
  • Rep: 94
  • Posts: 364
It is the fib extension but the triangles that are on your chart I am unfamiliar with an wonder how they appear. Do they appear after you have drawn your extension?
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  • VOwater
  • 16-Dec-2008 at 11:57 AM
  • Rep: 133
  • Posts: 4,121
Margie, I used the fib trend based price extension line tool...I clicked on A then B then C and it auto put my projections in...I then drew a trendline from B to D and A to C to be able to show the symmetry

Click image for original size
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  • 0
  • VOwater
  • 16-Dec-2008 at 12:02 PM
  • Rep: 133
  • Posts: 4,121
AB=CD says that price should come back to A...I'm not sure thats in the cards but we will see
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  • myptofvu
  • 16-Dec-2008 at 12:06 PM
  • Rep: 2,018
  • Posts: 666
Does anyone know the answer to this?

The 10:49-10:50 price proj. gave 885.25 but where do you take the next projection from? The 1st, 2nd or 3rd top?



Click image for original size
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  • 0
  • BruceM
  • 16-Dec-2008 at 12:07 PM
  • Rep: 216k
  • Posts: 19.9k
took 82.75 and trying to hold for above 79 area...we are trading back into the highs of the high volume magnet as I type
  • 0
  • Margie
  • 16-Dec-2008 at 12:08 PM
  • Rep: 94
  • Posts: 364
Thanks Vo.
  • 0
  • VOwater
  • 16-Dec-2008 at 12:12 PM
  • Rep: 133
  • Posts: 4,121
naturally you take the first, which will be good until price is breached or target is hit. Now the question is if price is the same does that count? I say no, however, kool may disagree. To me price must be taken out to invalidate a target.
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  • myptofvu
  • 16-Dec-2008 at 12:13 PM
  • Rep: 2,018
  • Posts: 666
quote:
Originally posted by VOwater

naturally you take the first, which will be good until price is breached or target is hit. Now the question is if price is the same does that count? I say no, however, kool may disagree. To me price must be taken out to invalidate a target.


Thanks VO!
  • 0
  • feng456
  • 16-Dec-2008 at 12:32 PM
  • Rep: 994
  • Posts: 340
ugh i hate low volume...
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  • BruceM
  • 16-Dec-2008 at 8:05 PM
  • Rep: 216k
  • Posts: 19.9k
Thanks for all the charts and goodies today folks........I enjoy it all but today I really enjoyed Prestwicks updates on what the "super powers" where up to...cool stuff
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