ES Friday 2-10-12

Right back into Mondays open as I type at the critical 1334 - 35 area here in the overnight....upside would be watching 1339 - 41

below here we will have 1329.75 - 1330.50

Dunno..looks like 36.00 to 36.75 is where this market wants to trade right now, not a terrible exit.

well, im trying to buy near 1335.00-1335.50 but we havnt quite gotten there yet. We need to keep in mind that although i laid out my reasons for a short term top next week ,possibly around 1364, we have come off this 1353-4 level harder than any pullback so far since the end of jan. all previous pullbacks were around 9 handles. Now if this one ends here one last high (1364?) would be expected.

Correct ...a mechanical pitbull trader would have bought the open print on the way back up and hold for 38.50....

as most know I don't encourage the mechanical entries...especially the open breakout trade ..hardest of all...


For me I was watching the 34 - 35 zone as mentioned above and then we get the Overnight low and then as a bonus is the minus 2.5 number...

Pitbull capitalizes on the attempt to return to the open..

Congrats to any mechanical trader that held for that..

Koolblue
Will you be kind enough to share with me your fib numbers? Including the extension and retracement numbers.

I watched so many gurus giving me different numbers for their fib.

For me your numbers will have more weight, I greatly value your response

yes i would appreciate too Kool blue.

well, guys i really already have . It kinda depends on what time frame your looking at. For the big pisture im looking for the rally from 1075 to end (temporarily) soon either at 1345( already surpassed,) 1364, or as i stated 2 years ago, 1425. On a much shorter term trading basis, im looking for one last move to new rally highs before a 100 handle plus correction. On a intraday trading basis, i was looking for 1333.75 for a low before a decent recovery to Bruces 1339 or my 1342 level (1333.75to 1337.00 initial move has its 1.618 extention at 1339.00...just hit, and its 2.618 at 1342.25)note the 5 min chart...

heres the 15 min chart showing what i mean...

I’m sorry if I was not clear enough with my question, I was looking to find out about your fib levels.

The percentage that you use, i.e. your 161.8% level or 141.8 and so on….

Originally posted by khamore1

I’m sorry if I was not clear enough with my question, I was looking to find out about your fib levels.

The percentage that you use, i.e. your 161.8% level or 141.8 and so on….

ohhhh ok!.. i look for the initial move up or down and use the 1.618 or 2.618 extensions of this move.. in very rare cases the 4.236 ratio will be seen but not very often. Thats why i call it the termination ratio. if the 1.618 is exceeded more than a tick ,then the 2.618 is indicated. usually a countertrend move will stop at the 1.618. and so on

Originally posted by Big Mike

Originally posted by khamore1

Originally posted by Big Mike

Originally posted by khamore1

Originally posted by vasuki

friday this late anything can happen

The closer we get to the close of the RTH and the Breath stays at or below -1600 I can mortgage your house that it will continue down

I think this is a silly statement to make by someone whose prior post was looking to save a tick or two.

Worrying about ticks? Really?

It is odd but I think your statement is silly and without any merit, I don’t see any place Vasuki was talking about making a tick or two certainly I never mentioned it. You’re confused and confusing others. Please go back and read the thread you will find out who mentioned ticks….

My apologies, you're right. I mispoke. Grunt was the poster about ticks.

Sorry

Apology accepted I’m sorry if I was to harsh in my response