ES Journal - 2012

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Quote from Laissez Faire:

I use 16:00.

They usually do not differ that much, but I feels it makes more sense to use the cash close similar to the stock market.

I can see your short now. Did not see it as early as you. :)
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I use the Classic formula (H+L+C)/3 to get the PP. I have H/1292.75, L/73.50, C/76.25 (16:00). Using these numbers I get 80.75 as the PP.

Where I am off from your calcs?
 
Quote from keeptradin':

I use the Classic formula (H+L+C)/3 to get the PP. I have H/1292.75, L/73.50, C/76.25 (16:00). Using these numbers I get 80.75 as the PP.

Where I am off from your calcs?
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Are you using the pit close low also?

I have H 92,75, L 75,50 and C 76 = 81,5.
 
Quote from Laissez Faire:

Are you using the pit close low also?

I have H 92,75, L 75,50 and C 76 = 81,5.
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Oh, okay. I am only using the ES numbers. Seems like yours are more accurate. :)
 
Quote from Laissez Faire:

I have a lot of potential support levels in this zone. Not getting a good read of the down side potential, although I think it`s there.
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I get 71.75 as a 50% level from the ETH low at 62 to the RTH high of 81.50. Could be a reversal area...
 
Oh boy. Looks like you will get your target, Mr KT.

I did not have the stomach to sit through the retraces. Too much potential support here. May we bounce at 70?

If not, maybe I`ll get back in on the short side. Still eyeing that gap below at 46,50, but probably not today, unless it gets really ugly.

Then it`s the SPX close at 57 that Lawrence mentioned. :eek:
 
Speaking of pivots then, I have S2 at 70. Being a round number and vicinity of the overnight 50% level, it could be a good bounce level.

But do not listen to me, I`m clueless. :p
 
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