Kools Tools for price
- Thread starter KOOLBLUE
- Start date
Thanks Kool, I've used a system similar since '98 for time and price projections. When I discovered my version of this I thought I'd merely reinvented the wheel.
A lot of traders don't realize these relationships exist.
Most of the time it works amazingly well for rough estimates with confirmation of other tools.
Not the grail but a damn fine tool. Don't go crazy spreading the word.
A lot of traders don't realize these relationships exist.
Most of the time it works amazingly well for rough estimates with confirmation of other tools.
Not the grail but a damn fine tool. Don't go crazy spreading the word.
well put, friend. i dont use any of my Kools tools alone .but prefer to use them together to get a picture of probable market action.... not a holy grail to be sure ,but extremely powerful tools to have in your arsenal!.... take note that i keep misstyping 855.75 when of course the projection was 865.75! lol, its very hard to post and manage a trade at the same time!
to get a real idea how to use these in trading ,just go to mypivots.com the es thread for 12-26-08 under traders lounge forum. we had another newbie(Molly) so i took great pains to explain my reasoning on a couple trades.... hope that helps!..... take note that i keep posting 855.75 when the short term projection was clearly 865.75!lol, its very hard to post and manage a trade at the same time! i think the same typo is on one of the charts i posted also!
I have read a number of your posts at mypivots. I understand you time cycle but I am still confused at your technique for price projection. Specifically, how do you determine which swing hi and swing lo to use with your 1.68fib multiplier? And do you have a priority time frame where you do these projections such as a 15 min chart. (I understand you trade from a 1 min chart). Thanks for any clarification you can provide. Nice thread btw.
i guess thats the $64000 question! i try to use the most important swing highs or lows for any projection, especially on the 15 min chart, which i use for a bigger picture overview of expected market action. its not that other lows or highs wont work ,but the more significant the low or high , the more odds of a significant bounce off the number once hit! frequently when we close to a 15 min projection for instance, suddenly the 5 min and 1 min charts begin giving the same number! As you pointed out, most of my trading is from the 1 min or 5 min chart since im so short term orientated. id tend to be in and out twice on a 6 point move for instance, taking 2 points at a time, instead of going for the whole 6 points . thats just my trading style and why i have such a high win % , most of my 'student' friends are a little longer term and they would go for the whole thing and do just fine! its just a personal preference thing.