We are right around 61.8 Fib retracement levels (1151)from October lows to November highs. Not that I'm a big fan of Fib for ES, but it's worth to consider it...
I pecked at a long this morning right around when I wrote in the forum, and took a -2. That chaps my @$$ a bit going into the weekend and a vacation, but what can you do?!? At this point I'm fairly certain the longer term trend is down. Even though I eeked out profit, I felt like I was fighting the trend all week... I will have to learn to adapt and take shorts with confidence if I'm going to maximize where the market seems to want to go. I hope some of you guys killed it today.
its not a pinpoint indicator,just use it if you were a swing trader and looking for a place to close out a short,it's more of a warning,somewhere in here