smbtnt

I did not see this at all fw, where did you get 280 from? well done on 280 btw....

out for -10, was about to move stop to breakeven as we hit 280 and she suddenly dropped like a bomb...

Long 255, stop 225

I am around dude....looking for a breakout and pullback to short but this has gone down very quick.....so expect some noise here at support on YM.

Sorry, I did not make myself clear, the extended fibs are used to gauge value areas after a significant move or vice versa. After such a sgnificant move up which was not expected by anyone on this planet except 0.0000001% of the population this beast needs to calm down before extensions can be calculated.

sorry do not understand??

Nice one! Do I hate it when it does this, clean as a bell premarket and we fall 200 pips in the 1st 5 minutes of the open... Now trading premarket is a viable alternative for me...

Yes, markets are easier to read when they are going up as opposed to going down, always the case.... Look how cleanly the futures ran up yesterday...

Great call on the breakout wasp... You favoured a b/o as opposed to a reversal as we were making HH's and HL's i.e the move leading up to previous swing was clean...?

Going for a cool 1000 I see...

Both mini bull cycles broke and bounced off 138 extension. 10500 was mega support but the extended fib refined the entry to 470... It can be 127, 138 or 161.8 extensions. However as previously we had bounced at 138 on the penultimate break then one may assume the same forces are in play for this little bull cycle. Hope this helps.

350 would have been a great entry... Thats nearly 900 ponts without reversing... where do the experienced emini intraday traders stand on this? surely a significant move down is due to produce the higher low??

Lucky, all out now waiting for the open...

Just got back to see I have been filled short at 11300, my exit was at 255, unfortunately it did not hit, I have had to move my stop to 310 now, any spike now and I am shafted....

Utter madness, Very surprised if we break 300 without some sort of pullback.

LOL! Both of you have been my mentors in the past, futures and fX respectvely, I feel it's fnally coming together, if only I lacked emotions everytime a signal turned up, like you guys can...

Guys i have to pop out, its our holy month of fasting and these last 10 nights are very special, have to go and cleanse the old soul from whole year's build up of transgessons against the lord... Will def post something substantial tomorrow.

470 was calculated, a fib extension, you will not believe the other fib signals I had along the way. 470 was the mother of all fib extensions, basically the YM was so oversold it 'had' to react off it. But I never in my wildest nightmares would have expected such a dramatic result... If fib traders are interested then i will post charts, otherwise I will leave this play for my grandchildren to admire.

yes, it happens I let that one get away, i had long signals along the way but the old ghosts promptly came to haunt 'surely we are in a bear market' she whispered and suddenly I was not trading, I was guessing and hoping and gamblng even though a trade was not placed. FYI last time we had a move of this significance was 22nd January 2008. Tomorrow there will be more opportunities to go long as this has to retrace at least 50% from today' highs if it is a genuine trend change.

sure will, just need to get over the fact that i missed the world's greatest long ever!!! having called the bottom.

bloody hell - bang on 470!

any ideas how much lower? I have 470-420 as next level...

680 would have been a great entry in hindsight ofcourse:(

yes, my next short would be rejection of 720... otherwise I cannot enter short here even though it does seem to be s/r at 680....

this market doesnt give you time to think, rejection and straight plummet, messy action within this range, I had a signal to short once we came off 785 but waited to long....oh well... well done on the level once again...