Traderbeauty Golden opprtunity for making 90 ES points coming soon

[Traderbeauty]

Hi Guys

As you can see the market does not give up easily.

This is an update of what is going on.

We do have a lower low now on a 360 min chart- but.... we did not have a 1.272- its was not even 112 extension which brings me to believe that there are two possible outcome-

First is a symmetry which will bring us to exactly 1889.25 and then continuing down.

Second - market will go now to 1909.50 which is very close to the daily level predicted long time ago.

There is also a third option which is- the market is too tired to create a symmetry and will only go to the 78 fib which is 1879.5 and then down to a new low.

What will happen- nobody knows- this is just an assumption based on price action that is usually very accurate.

Things will get clearer as we go up and will be 100% clear when we are at the levels.

If you ask me what i do- I have my limit orders in at 1889 and at 1909.50 ( where i sell the kitchen sink and the entire bedroom lol ).

Again- if you are a newbie use a simulator.

Hope it helps

Traderbeauty-Jane

[wcicom]

I doubt anyone who does not see value in Fibonacci numbers have ever used them correctly. And I am not talking about dozens of ratios, only five retracements and five projection ratios. Nothing else in the Markets is worth watching to identify targets, support and resistance levels besides Fibs. Every high and every low in every Market is defined by confluence of Fibonacci ratios, anything else present at the extremes, like percent, square root results, etc - is purely coincidental. Learn to use Fibs correctly, and then spend some quality time with them, if you have enough resolve you will be amazed with what you will find. One hint...like Gann always said - if you will start in the right place you will finish in the right place, most obvious points on the chart are rarely correct ones to use.

 

Good luck

[Swordfih]

@Jane & wcicom

 

Great stuff, thanks for sharing.

[Swordfih]

Dear Friends and traders.

 

Normally I dont do a long term forecast but...

 

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

 

Traderbeauty-Jane

 

It looked so far down back them and we are there today, to the tick! Simply amazing, thanks again Jane.

[casper44]

Traderbeauty, check out this site...http://halfwaybacktrading.com/ (http://indo-investasi.com/member.php?u=45548) very nice fib tool/chart enhancement. It has been released for trial use and asking for any ideas to add to the tool for enhancement.

[forexonly]

With all due respect to Jane we never did reach 1909 ( or +-2 points) and so far 1817 has not proven to be a bottom. It looks like more down from here!

Thanks

[yamantaka]

With all due respect to Jane we never did reach 1909 ( or +-2 points) and so far 1817 has not proven to be a bottom. It looks like more down from here!

Thanks

 

Well, no harm in trying. Making bold market calls isn't risky if you don't trade them.

[forexonly]

I was okay with the call and do appreciate traded or not. But if one does make calls then make them every day and if you are 50% with high risk to reward I will be the first to tip my hat, follow and thank. And it's okay be wrong, but the call was not not "amazing." It was just a call that did not work out and it happen to all of us.

Anyway I don't want to upset anyone. Nice day and week to all.

[Traderbeauty]

Guys-I can only predict what I see- this was an opportunity but it never got there and its not my fault.

I never said that 1817 is going to be a bottom, i said its a minimum retracement.

So lets see where are we going now-

BTW- if you want me to stop i will in a heart bit -these are just ways to learn how the market is moving- i never trade such longer term but its nice to watch and i am sure you can learn some which is the same for day trading with no indicators.

 

 

On a big scale- Daily- we have no indication of a reversal in the market- so as much as the doom and gloom want to- this is so far only a retracement.

IMHO and again this is only opinion- i expect the market to stop either at 1789 but most likely at 1779 and then continue with the up move and make NEW HIGHS.

If the market is really tired it might go even to the 78 fib which is 1761.5 but no more and again - following with new highs.

If instead it will continue down and break the 1725 by more than few points ( daily- remember ) then we need to rethink the game play of the long term.

Again- this is like playing chess- the opponent ( market) is making a move- i read it and react accordingly- ; if the opponent changes its strategy i need to change accordingly and not get stuck in a direction.

Now- how can we tell which way it goes and how can we use this info for our shorter term trading ?

Very simple- the market DOES NOT move in straight lines- it will tell us by creating an upward zigzag that the up move has started. once that starting then we know what to do and we know what is the minimum traget- so dont just place long orders at 89 or 79 and go to sleep.

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

Traderbeauty-Jane

[Traderbeauty]

Here is the shorter term

we definitely see that we have now lower lows and lower highs so if the market goes up from here ( arrow left top ) then we will short at 1827.50 for a new low.

If it continues down to the 1.9 - 1795.5 and only then up then we will short the 38 retracement ( not shown yet here ).

There is a third option which is symmetry - see lower arrow right at 1809 - if that happens then we will look for an equal symmetry which should be around the 78 1854.5 to short.

So the shorter term is here- WE WILL SHORT EVERY up move of the market now- till it proves us wrong.

BUT- we dont just place orders and leave them- we look for proof of down zigzag on smaller time frames like renko 4-1 or 8-2 or even 2-1 if the move is fast and strong- but we expect these reactions to START from these levels.

hope it helps

Traderbeauty-Jane

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

[Traderbeauty]

in the meantime- this is how i trade intraday-

i like the 4-1 renko to tell me what is going on and i actually use the 2-1 renko to enter more precisely.but you can see ( first arrow left )- once we broke support and we have low low i expected lower highs so every time the market retraced i shorted- no sense to even go long. did i take all the trades- NO- did i have some losers because of fluctuations and too early entries - YES - i am not a magician i just trade what i see.

Once we get upward zigzags i will go long on every retracement but till then i keep shorting and not trying TO GUESS where the market is going to reverse.

hope this helps .

traderbeauty-Jane

here is the full link------http://i.imgur.com/1zqVkUk.jpg----

http://i.imgur.com/1zqVkUk.jpg

[exp48967]

Traderbeauty, check out this site...http://halfwaybacktrading.com/ (http://indo-investasi.com/member.php?u=45548) very nice fib tool/chart enhancement. It has been released for trial use and asking for any ideas to add to the tool for enhancement.

 

 

Any chance to get the full?

[Traderbeauty]

Traderbeauty, check out this site...http://halfwaybacktrading.com/ (http://indo-investasi.com/member.php?u=45548) very nice fib tool/chart enhancement. It has been released for trial use and asking for any ideas to add to the tool for enhancement.

I looked at their site- that guy talks so much so i am not sure if its good or not- going to post a classic entry that just happened NOW- not sure that i need any software to help me calculate fibs.

but maybe one of our educators can help us here.

Jane

[Traderbeauty]

Here is a classic entry that just happened. I dont trade sunday evening or any night- i was just infront of the puter when i saw that and decided to share with you.

As you can see in image one- we had a lower low lower high that stopped right at 1.918

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

once it did that i waited for the market right at the 0.38 fib- you could either take it there with 2-3 ticks stop or wait for a navi signal.

when everything works to the tick i enter at a consolidation which is showing me hesitation and a fight between buyers and sellers.

This trade worked beautifully and i expect it to go to 1.918 but if i enter with 2 lots i will exit one at the 1.272 and keep the second for the 1.918.

hope this helps

Traderbeauty-Jane

http://i.imgur.com/5IE2BGj.jpg

Edited April 13, 2014 by Traderbeauty

[Traderbeauty]

here is another short- this time in real time- u can see this time we got it at the 62 fib

http://i.imgur.com/JLPVBx5.jpg

[Traderbeauty]

Expecting the market to resume its down move around 1853.50 and create a new low.

Traderbeauty-Jane

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

[yamantaka]

here is another short- this time in real time- u can see this time we got it at the 62 fib

http://i.imgur.com/JLPVBx5.jpg

How's that reversion indie working for you?

[Traderbeauty]

Hi Yam.

Its not bad but as expected you cannot trust it when the market is strong in one direction.

You have to use your fibs and price action method and that indicator can only add another level of confirmation.

It looks like its just a more fancy rsi nothing more, but it can help in preventing sometimes an early entry.

One thing i can tell you- when the market is slow and volume is 1000-2000 lots per minute you can actually trade with it combined with navi and you hit almost 100% results.

Bottom line- if you try to just use it as is you commit suicide.

[Traderbeauty]

So lets continue with the current analysis-; I expected the market to reverse back to the downside at the 78 fib - but here is true trading- I expected but the market did not give a damn lol.

Here is an 8-2 renko chart that is showing us a continued upward zigzag.There were 2 spots where they tried to create a divergence but it did not work.All you see is higher highs and higher lows- meaning -NO CONFIRMATION for a reversal. MEANING- JUST GO LONG at every retracement till the market proves you wrong.

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

Next step is again- what do i expect from here.

Lets look at a longer time frame - 360 minutes--- As you can see ( look at the arrows ) we do have lower highs and lower lows so now I expect another lower high to come either at 1867.5 or maybe few ticks above which is the oldest trick in the book- break the previous high - let all the suckers go long and then reverse causing them all a lot of pain.

If- and i repeat- IF the market break that pivot by more than few points then we will have now a higher high and will expect a higher low to come after with the trend now going up.So lets just sit and wait and see what is happening- we dont want to force our opinion on the market we just want to get hints of what is going on so we use this info while day trading.

Remember- we need the smaller legs to confirm any change of direction.

http://i.imgur.com/W9wSvkT.jpg

 

Now lets look at a daily chart- there is one last scenario that is possible that the market retraced to 50 fib on a daily level - if that is the case then i expect the market to go to at least 1915.50 which is the 1.2 but most likely 1945 which is the 1.6.

Obviously 1867.50 is a strong resistance followed by 1873.75 which is the 78 fib. so lets just let the market play its roll- in the meantime- just trade the 4-1 or 8-1 or even 2-1 renko spectrum, just see where the legs are going - meaning higher highs higher lows etc and then just trade accordingly.

Take care

Traderbeauty-Jane

http://i.imgur.com/jvA23YA.jpg