N Rothschild
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how are you working out these price projections?
the initial move before a 'decent' retrace times 2.618 and added to the start of the move(or times 1.618 and added to the end of the move ..same thing. refer to KOOLS TOOLS THREADS ON THE METHODOLOGIES FORUM under tech. analysis, price and vol.SEVERAL FRIENDS and i trade these every day at mypivots.com (es thread)
i e: see the 894 high , it certainly went down the next bar to a low at 887.50, before the 3rd bar whuich showed a 'sinificant' retrace. follow? 894-887.50=6.5 and 6.5x2.618= 17.017 subtract 17 from the start of the move (894) =877.... bingo .... projections are valid untill the high (894)or low if an upward projection, is touched again
N Rothschild
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cheers mate will check out your thread
N Rothschild
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if you look at my post in potential setups, bulls beware lol
also possible is the rising wedge or double-zig-zag pattern,having bottomed at 877 and ready for its final push upward to end the formation and begin the decent to retest the yearly low in Jan.for this to remain viable 877 cannot be violated! (by more than a point or 2) Happy holidays all!
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Note to newer traders!: Over at mypivots.com, ive tried to create an 'army' of sucessfull traders who have taken my work to the next level. the es threads and the charts sections are must reading. Check out VOwater and P.T.eminis work,both 5 star generals in my opinion and Bruces vol work ,also worthy of attention. I suppose you could 'piggyback 'our trades and make money as we do, but if your a serious student of the markets and learn to use these techniques on your own(not that difficult) youll never need 'gurus' expensive 'systems' or vendors again! Good trading all!
