Traderbeauty Golden opprtunity for making 90 ES points coming soon

Dear Friends and traders.

Normally I dont do a long term forecast but this is a very unique situation specifically since the market is now in an unknown territory.

I forecast the ES to reach 1909.50 and then go down to at least 1817.50 .

Again - I am not forecasting a reversal ; just a retracement and we can take an advantage of this.

If you are a newbie then please do that only in your sim -DO NOT PLAY WITH REAL MONEY EVEN IF THE Temptation AND GREED IS HIGH.

For those of you that trade live I suggest to wait till you see a down zigzag and then just trail it.

Please note that these are daily ( 360 min ) levels ;very long terms so they might be skewed by few points; on top of that the market has a nasty habit of trying to trick everybody.

Last fact is that this is just an assumption based on fib analysis and since this is a live market nothing is for sure.

Just wanted to share the info with you.

Take care and who knows maybe by tomorrow 8:30 report we might get there.

Traderbeauty-Jane

all the best

All the best, Jane

wannabie- this is not a trading system.

you are searching for the almost impossible - which is a black box that will bring you 3 points every day while you go to the beach and enjoy life.

So let me wake you up- trading is hard work, research, backtesting, and spending weeks and month looking over charts.

3 points every single day will cost you few billions- yes- billions, because the banks will buy it and will trade thousands of contracts making a fortune.

If you wannabie a trader there are no shortcuts- only hard work.

Jane

Jane,

I think the gap is going to get filled at 1850 Not today, but soon.

yam- looking at the charts without being biased i expect the market to go down now to 63 and then up for a new high

jane

i am going to fine tune using smaller time frames , but right now its 1914.75

will keep you posted as we come closer.

jane

OK- So friday played perfectly- and now I have a more accurate level.

Its very simple and its accurate almost to the tick even though we are talking about daily levels.

AS LONG AS THE LOW OF 1855.75 IS NOT BROKEN BY MORE THAN 1 TICK THEN WE AIM AT 1915.75 ( CAN BE PLUS MINUS FEW TICKS BUT NO MORE ).

FROM THERE THE MARKET WILL DROP AT LEAST 90 ES POINTS.

Take care

Traderbeauty-Jane

Jane,

 

I think the gap is going to get filled at 1850 Not today, but soon.

Well, it hit 1850.25 to the tick--filled the gap--and bounced off.

Yam

as long as we didnt break the 34 low by more than few ticks we still have an up move on the big time frame.

So far all the fibs were broken so most likely we are going to hit the 34.

If we bounce from there that means we are still in an up move but if we break it by more than few ticks that means we do have a lower low and should have a lower high following.

So lets wait and see.

Will continue to update.

Jane

Jane,

Great post, as always. Could you please add some charts to your forecast? I think it would help many of us to see what you're seeing more easily. After all a picture is worth a thousand words, as they say. Granted there is no substitution to due diligence but it seems I am missing something on your analysis :">. Are you measuring from the daily chart? As always, looking forward to your posts with interest.

thx sword

will do later tonight or tomorrow- market is down now anyway so we do have time.

jane

ok- so here it is-

As you can see in image 1- the market retraced to 50 fib :

http://i.imgur.com/yZfuaQ0.jpg

Now i expect it to go to an extension of 1.618 as you can see in image 2- the trick is to be more accurate- its hard to trade on daily levels specifically when you want very small stops so the closer we get to it i will be able to be more accurate and see which smaller legs are ending around that high of 1910; and of course i will update this post all the time till we get there.

http://i.imgur.com/APjJdWV.jpg

Right now unless there is a change i expect a strong reaction at 1908.25.

Another fact you have to consider is that we changed contract few weeks ago but these past levels are based on the old contract, so there is some skew around here but that is why i let the smaller legs dictate my trading.

Hope it helps

Traderbeauty-Jane

Traderbeauty when ever you get to read this message could you please tell me something I don't understand

I see how you get your levels here, I tried it myself and got the same levels somehow like yours, but how do you know if it is going to continue up or go down from there, it sees to me that when I draw the fibs it's always to look for a counter trade is it not?

what makes you decide that it's the end of the trend?

this for me would be key for entries with your levels as potential target

thanks

She doesn't, she is just using technical analysis, Fibonacci in this case, just like chart patterns, like Andrews Pitchfork, to try to predict movements in a financial instrument.

It could be wrong, it probably will be.

But its interesting to watch the methods and outcomes.

I see, any idea how precise the fibs are?

As precise as random patterns are :))

 

Look up how precise Fibonacci is.

You will find a few math masters who will tell you its just nonsense.

Good trading bro!

the proponents of Fibonacci would pull out examples of many natural phenomenons that exhibit patterns of "golden ratio", or "growth ratio" (they are fib ratios), and conclude that "it must be a law of nature" that everything, including financial market, must follow the same pattern of ratios.

I find such argument insufficient to say the least, but the golden ratio found in many natural phenomenons may not be just coincidence, it's still a mystery.

What is the reality is that some traders, or many traders, believe in that price would react to fib levels, and act accordingly, it is their actions that cause the price to sometimes react to fib levels, that is all there is to Fibonacci ratios, it is not a law of nature, if it is, then we can all be sure where price will turn and there will be no financial market: everyone knows where price would turn, who is left to take the other side of the trade?

Traders can use Fib as a proxy, or "indicator", to try to predict what other traders may be thinking or doing, and with practice they could become very good at doing that, but such expertise can only be acquired through experience, not from reading, and market is constantly changing and evolving, so the experts constantly adapting and adjusting as well. In short, it is useless to read other's writings about fib and acquire this expertise, it can only be acquired through one's one experience from trading.

Wannabie- as trader34 said- fibs are just addresses on a street that tells me which way to go.

I watch the legs and they tell me where the market is going- if i see higher highs and higher lows i will enter long on every retracement but i will do that in a fib level.

so fib is not the key to trading- fib just a more accurate entry- but you have to decide which direction is the market going.

Jane

so true user33 very well put....I myself use fib ratios as am sure many others do to limit risk on retracement entries with "confluence" 2 or more ideas/technical approaches to determine a potential "inflection point".... The idea been a level will become self fulfilling and that may be buying or selling interest also at that particular level and often enough you will see another idea such as for example a "hvn" high value node or test of natural support or resistance or a channel bounce/trendline whatever that adds to that level....

What is important to note is that you cannot quantify any fib ratio from a statistical historical backtest to conclude that one must always buy or sell this level or that level..... It becomes more an art and yes subjective just like other esoteric approaches and not something that can merely be passed on from one trader to mimic another as you have to tune yourself to market structure and spend thousands of hours in order to convince yourself that it "whatever" you utilize works for you and at the end of the day gives you an edge with a positive expectancy in the long run......

just my 2 cents !!

cheers and good trading to all !

Wannabie- as trader34 said- fibs are just addresses on a street that tells me which way to go.

I watch the legs and they tell me where the market is going- if i see higher highs and higher lows i will enter long on every retracement but i will do that in a fib level.

so fib is not the key to trading- fib just a more accurate entry- but you have to decide which direction is the market going.

Jane

Thank you for that, but my question now is, if you watch the legs (the candle wick I guess) than why use the fib? unless you mean you only deduce the trend from the wicks as HH or LL etc.

would it be more precise to watch a reaction from the wicks as oppose to fib levels?

Thank you

If you are referring to the overlapping boxes, that looks like APA Zones.

W