ES emini
ES emini
I actually bought the last double bottom on ES with a tight stop. I am still bullish dollar and the ES..I may also turn bullish on oil and I remain bearish on GOLD. To short gold and to buy Oil I will be waiting for confirmations. I encourage people to share more of their ES charts
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Re: ES emini
This move also seems like a nice range square.
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- es_range square.jpg (68.01 KiB) Viewed 14396 times
Re: ES emini
Hi Baha,
This decline has most likely ran it's course. Not saying it will be very smooth ride higher, but when this type of correction is complete,
it does target move to new highs, 2175 - 2200 seems doable. If we do indeed go much higher - most will be caught off guard.
Simon
This decline has most likely ran it's course. Not saying it will be very smooth ride higher, but when this type of correction is complete,
it does target move to new highs, 2175 - 2200 seems doable. If we do indeed go much higher - most will be caught off guard.
Simon
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- ES_Target_Feb-14-2016.png (42.89 KiB) Viewed 14368 times
Re: ES emini
Forgot to add earlier that 1940 level on ES is key for now. No need to guess and jump in too early in front of freight train. If ES can give a daily close above 1940 and then fail to make new lows on following decline - odds will be with the move to new highs, and there will be plenty of points to be made on the upside.
Re: ES emini
Hi Simon,
Firstly, thanks for sharing your chart.
I agree, again, with everything you said. I couldn't have said it better myself.
I was trying to figure out % 88.6, since that is a ratio I don't use/haven't used.
Obviously, 1/113 = 88.6, but where does 88.6 come from?
70.7 * 1.25 ? Harmonic vs arithmetic?
Please forgive me if this has a simple answer.
Firstly, thanks for sharing your chart.
I agree, again, with everything you said. I couldn't have said it better myself.
I was trying to figure out % 88.6, since that is a ratio I don't use/haven't used.
Obviously, 1/113 = 88.6, but where does 88.6 come from?
70.7 * 1.25 ? Harmonic vs arithmetic?
Please forgive me if this has a simple answer.
Re: ES emini
Also, until we break 1940, like you said, I am not 100 percent sure about a big rally, either. We may have a pull back all the way down to 1804, maybe? Or it might just fill the gap from 2 days ago and come back. Time will tell..
Re: ES emini
Hi Baha,
If I may:
0.886 is the fourth root of 0.618, in other words, sqrt 0.618 = 0.786; sqrt 0.786 = 0.886
0.707 is the reciprocal of 1.414, the sqrt of 2. You don't see 141.4 on Simon's chart due to space, but I bet it's on there.
There you have it!
ToddS.
If I may:
0.886 is the fourth root of 0.618, in other words, sqrt 0.618 = 0.786; sqrt 0.786 = 0.886
0.707 is the reciprocal of 1.414, the sqrt of 2. You don't see 141.4 on Simon's chart due to space, but I bet it's on there.
There you have it!
ToddS.
Re: ES emini
Todd,
Thank you so much for the answer!!
Thank you so much for the answer!!
Re: ES emini
Hi Baha,
Todd is absolutely correct...I do keep an eye on 141.4 level. Have to give these levels a bit of slack, sometimes they hit exactly to the tick, and other times they come in a bit short or long which is totally normal, it is what Gann called "lost motion".
Good trading,
Simon
Todd is absolutely correct...I do keep an eye on 141.4 level. Have to give these levels a bit of slack, sometimes they hit exactly to the tick, and other times they come in a bit short or long which is totally normal, it is what Gann called "lost motion".
Good trading,
Simon
Re: ES emini
I decided to start the week flat, so closed my position this evening.
Simon's experience speaks volumes. We didn't close above 1940 last week. This week, a pull back is a possibility tandem with probability of gold going higher to finish it's pullback. We will see. I wish everybody a great week.
Baha
Simon's experience speaks volumes. We didn't close above 1940 last week. This week, a pull back is a possibility tandem with probability of gold going higher to finish it's pullback. We will see. I wish everybody a great week.
Baha
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