Thursday 11-15-12

Jing booted me off twice. I think it's trying to tell me something.

i need to see us below 44 in order to hunt for longs...ideally near 42.50

yep, got 41.5-42.5 as an area for longs...might not be around when it happens...will be out in the pm, so good luck

cool Nick and thanks for the good words from u and sharks...nice to know that at least two people are left here to appreciate the effort with the videos.

Bruce,
Your work is top notch, some people would charge thank goodness you don't.

Originally posted by BruceM

cool Nick and thanks for the good words from u and sharks...nice to know that at least two people are left here to appreciate the effort with the videos.

Hey Bruce, I'm sure there are still a few of us lurking in the weeds that appreciate your effort. I'm usually in the shadows. Thanks for the updates when you post.

I reviewed the videos this morning Thanks for the insights.

I took Thursday off due to the Wide Range bar on Wed.

Bruce, do you do better on days that follow Wide Range days?
I ask because normal expectation after a WRB is consolidation and it seems to me that your type of trading might be more profitable on a range bound day.

And I certainly could be wrong, too.

this area worked very nicely...hope somebody took advantage of it

Originally posted by NickP

yep, got 41.5-42.5 as an area for longs...might not be around when it happens...will be out in the pm, so good luck

Nick,
where did that area come from?
what did the 41-42 area represent?

couple of things paul

- 42.5 was the low of the week of 7/30 and a lvn for me

- the 4.236% proj off the 30m chart from the 11/8 rth of 97.5 to the swing low of 84.5 yielded 42.5 (note that the 2.618% projection had perfectly caught the 63.5 o/n low of 11/9 as well, so confidence on the next proj was quite high)

-the full fib projection (2.618) on the hour chart from the 11/13 high (386.25) to that sessions low (69.75) was in that area as well

-and very important as well, 1345.5 was the 61.8% retrace in sp cash of the move from the 1266 lows to the 1474 highs...that coincided with es at 42-42.5 since they currently trade at 3 pt discount to cash)


hope it helps

Originally posted by PAUL9

Nick,
where did that area come from?
what did the 41-42 area represent?

Thanks.
Have a great weekend