ES 12-29-08


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  • VOwater
  • 29-Dec-2008 at 9:09 AM
  • Rep: 133
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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
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  • koolblue
  • 29-Dec-2008 at 1:20 PM
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  • palmer
  • 29-Dec-2008 at 1:24 PM
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got that low here too KOOL - I thought I was off :)
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  • einstein
  • 29-Dec-2008 at 1:24 PM
  • Rep: 170
  • Posts: 167
I dont like scalping. Prefer to hold for 4 to 6 points if possible. So using some of your logic I see the 13:05 candle low on 5 min chart as significant. Using a 123 projection has 161% near 858 which also corresponds to a 62% pullback from recent low swing. That might be a reasonable short. Comments welcome.
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  • koolblue
  • 29-Dec-2008 at 1:26 PM
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EXACTLY, IF WE SHOULD GET THERE I MIGHT ALSO SELL THAT AREA
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  • einstein
  • 29-Dec-2008 at 1:28 PM
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  • Posts: 167
that projection was just negated.
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  • einstein
  • 29-Dec-2008 at 1:32 PM
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  • Posts: 167
thanks again kool. I appreciate your patience. In the 15 min chart I see how you projected the low but dont understand why you chose that interval since each high candle had significant retracement. Was there anything wrong about just using the 645 high candle? (Obviously in retrospect the projection would have been too high).
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  • VOwater
  • 29-Dec-2008 at 1:32 PM
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l @ 54.25
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  • koolblue
  • 29-Dec-2008 at 1:36 PM
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EINSTEIN. CYCLES ARE COMPLETELY INDEPENDANT OF PRICE PROJECTIONS . All a cycle is telling you is a timeframe for a potential shorterm bounce. price projections tell you at what price zone an expected bounce may occur! and i did use the 6:45 candle for the cycle! its the other peak i was refering to!
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  • VOwater
  • 29-Dec-2008 at 1:36 PM
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1 off 55.25
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  • koolblue
  • 29-Dec-2008 at 1:37 PM
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1min proj here was 855.50...see it? that would be the 'bare 'minimum bounce expected!
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  • VOwater
  • 29-Dec-2008 at 4:15 PM
  • Rep: 133
  • Posts: 4,121
just noticed it is up 6.66%! evil number
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