6E 1-29-10

For jyonkeeod.

This is the 2 bar projection. I am trying a buy here.

Coincides with the other 1 bar projection at 423.6.

Why 2 bars? Or are you just looking for levels that projections coincide as good chance for bounce?

Just watched it live, very nicely done lordalfa and again thanks for sharing.

Buy triggered.

10 ticks stop BE.

Target 11. Done.

Originally posted by jyonkeeod

Why 2 bars? Or are you just looking for levels that projections coincide as good chance for bounce?

2 bar because the single bar paint, 161.8 has been exceeded. No way it will bounce thereafter. So I use a 2 bar because there was a retrace after the 2 bar. And the previous day swing high asked for an ultimate bounce at 423.6 which also relates.

This is counter trend, so, don't be too cocky.

11 ticks is good enough on 6E. It takes 5 mins or less. You might wait like forever on ES to achieve $100. Why 11 ticks? 10 ticks for me and 1 tick for the broker.

Hi LA: Have you looked at applying this to crude oil. What kind of stop and target would you suggest using Kool's tools on a 60 min chart with crude? Thanks.

Originally posted by einstein

Hi LA: Have you looked at applying this to crude oil. What kind of stop and target would you suggest using Kool's tools on a 60 min chart with crude? Thanks.

Crude is a different animal. I have not tried this on crude. I use another method on crude. 1 hr is too much on crude. The stops will be too drastic. You need deep pockets I guess.

Originally posted by einstein

Hi LA: Have you looked at applying this to crude oil. What kind of stop and target would you suggest using Kool's tools on a 60 min chart with crude? Thanks.

fwiw, I have been playing with it on crude. I calculated 5 Kools Tools set-ups this morning and all five hit or exceeded the objective: 7482 to 7443 projected 7380, 7405 to 7422 projected 7450, 7450 to 7426 projected 7387, 7367 to 7394 projected 7438 and 7443 to 7426 projected 7399. I have been using 1 and 5 minute charts, focusing on the length of counter runs before a meaningful retracement. I stopped for this morning about one hour ago because I have to shut down now.

re stops, I don't have a suggestion except to don't make it bigger than what your nerves and account can tollerate.

I hope this helps.

thanks prestwickdrive.