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STEPHANE1984

E-Mini S&P 500

By STEPHANE1984, in E-mini Futures

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STEPHANE1984    10

STEPHANE1984
Posted

On Esh15 ,I admit the bottom of 2nd february was possibly end of wave 4 but since this bottom I dont like the up which looks too much an a,b,c , for that reason I stay aside .

If I am right and there is a last puke to 2000-1960 then I will buy but not before .

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Axiom    10

Axiom
Posted

Stephanie,

I'm not quite sure that I follow you.

 

If you're saying the current ESH contract is fulfilling it's ABC pattern, then yes I do agree. On the daily horizon I am trading on that premise. It's currently on it's C wave to be very specific. 2075-2076 is a major area of confluence, and as you know it topped out at 2075 and dropped immediately. Great entry point, easily would be able to grab 150-250 points on this move(depending on how many accounts you're trading). Worst case scenario, with one contract and being tentative, you could grab 60 points. There is a bunch of ratio clusters in the 1996-2001 range, but that's been broken and new notes are being played.

 

My price projections give this C wave(in the daily horizon) a couple different possible targets. There is 1982.75, then 1980, then 1977.25, and 1968.

 

I do realize that I just gave you four possible projections, though that is extremely efficient for myself. My price projections rely on more then just price analysis. So after gathering these targets I then have to do analysis on the vertical and diagonal axis, which will show which one is the most likely. I have not done that for this wave C, for a few different reasons, but ultimately because it's not needed for this move.

 

Now, obviously none of these could be respected. The market will speak, it is our responsibility to listen and understand. The bottom for this C wave will be extremely clear in your oscillators as well...

 

Hey, what markets do you cross reference for your E-mini analysis? Don't if you do or don't...but one you might want to analyze is the Russell mini.

 

Axiom.

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Axiom    10

Axiom
Posted

Well the 1980 was spot on for the low on Monday...it hit that and jumped up. Today I thought it might do the same for the 1968 projection...today's low was 1970, so pretty close. Maybe 1968 will be respected in a few more days.

The Russell mini dropped through a support with it's low today, which was not a projected pressure point. Which leads me to believe the S&P has further to fall, in terms of the 1968 level being the end of this C wave....I'll have to do some more projections in case the 1968 is not respected.

 

Hmmm....I'll need to do all my numbers and update my charts to see what exactly is going on. I know that today(the 6th) and Friday(the 8th) are possible pressure points on the vertical axis. Let's see what these oscillators look like.

 

Axiom

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MightyMouse    12

MightyMouse
Posted

These are great days for trading the emini. Knife catching is more of a low-volatility game and will get you killed in this market. A better entry is to use Sell and Buy stops to enter into the direction of a move. Don't bother trying to catch a top or bottom.

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Axiom    10

Axiom
Posted

Reversals can be clearly defined, I just do not view the market as a knife. To have continual confirmation in the matter of interpreting market movement, I just cannot make that comparison.

 

I do believe that there is an overwhelmingly large percentage of people who're involved in the markets that have no business being involved. Their lack of knowledge, and desire to understand what they're doing is what allows the market to be viewed as a knife. I would say that it is them that is the knife, their own worst enemy if you will.

 

But I fully agree that mini has been incredible since August.

 

Axiom

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MightyMouse    12

MightyMouse
Posted
Reversals can be clearly defined, I just do not view the market as a knife. To have continual confirmation in the matter of interpreting market movement, I just cannot make that comparison.

 

I do believe that there is an overwhelmingly large percentage of people who're involved in the markets that have no business being involved. Their lack of knowledge, and desire to understand what they're doing is what allows the market to be viewed as a knife. I would say that it is them that is the knife, their own worst enemy if you will.

 

But I fully agree that mini has been incredible since August.

 

Axiom

 

A lot of money can be made catching the knife the right way. It can be messy if one catches it the wrong way.

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