ES 242. That's quite specific. Not in the 200s or whatever, but specifically 242. Not even a rounded 240. No. 242. Calculator: An instrument that lets you to take two seat-of-the-pants estimates, multiply them, and get accuracy to the 8th decimal point.
833 to about 817.5 when I called a rally to the Magnet that had been called at 836.75 then down back to 820 area that would be how many points now? Let's see, 833-818= 15, 837-818=19, 837-820=17 now let's add: 15+19+17 = 51 or NOT???!!!! Now, there you had a 51 point potential to take advantage, ask yourself how well did you take advantage of such perfect calls? A proficient trader just by knowing the trend direction(an impossibility by itself which I made possible for you) could and should make more point gains than the straight lines. Hence the 51 points should have rendered say 80?! Unless you didn't know about MM, scaling, profit taking and risk management then you would expect to place the trades on and proceed to Golf the rest of the day and collect the golden eggs when returning back home!
You did no such thing, friend. What you basically said was "it's going down unless it's going up" - which is no call at all.
3:48 pm et es @840 and the 813 call stays. Probability = 100%, timing(sooner rather than later) and DD unknown.
such a waste of time and energy posting in this forum. As usual, noisy irelevant comments that are the product of lack of attention and not reading the thread in it's entirety completely throw off the subject and get in the way of us benefiting from each other's knowledge and know how. here's an example: In the first post below a clean clear cut short at 833 is spelled out. The call proceeds exactly as predicted despite all the odds that were against it when called like the market having been more than 2.5% up which would be against the general wisdom to call for such a substantial fall. In the second post below already after a substantial 8 point drop at 826 I warn about a magnet at 836.75 which is disturbing the fall! In the 3rd. post below, at 818.50 after a 15 full points drop I clearly call for a long and the target had already been announced in the second post! Well, if anyone needs more hand holding than this, then the question is if they should be trading in the first place or not?
i agree that this is a huge phenomenon, but i think your arguement needs a lot more work than one chart from EWI as gospel Robert Prechor has a notoriously WRONG record, saying (in his 2002 book 'conquer the crash')that in 2002 that housing prices were going to crash - which now they have but he didnt say anything about a bubble first i subscribed to ewi for a short time in 2001, and found it to be 'interesting, yet full of it' way too deep in their own heads they do have somewhat of a handle on societal trends of big picture stuff, and can convery important concepts that are hard to grasp. I do agree that we entered this bear market in 2000, not 2007, and that it's a big one but their record for application into specific predictions is horrible
OK, hereâs the same call with all the handholding steps for those who still canât trade with a map at hand and they need others manage the steering and the brakes on their behalf too! ES closed at 848.50. A simulated short is in order with profit taking based on guts and expertise as follows(Stops & DD if any at discretion): 1- 848 2- 842 3- 838.50 4- 833.50 5- 823 6- 813.25 Now, any of those Profit taking levels met, one could reenter if the opportunity provided say after a full 10 points retrace or whatever or just be happy with the windfall and hit the sidelines.