Nailed the low!

9/15/2010

The last few updated we were saying that the TF could go to the 660.00 level. Last night we told our members we could come down into bigger support and still go up into the 660.00 target. The TF had a high today of 652.00 or 8 points away from our target.

The ES target is 1125 which is only 5 points away.

The point is tomorrow could be a reversal day to the medium trend which means we could go up hit the targets and then roll back over. Or we could go down and if support holds then go up and complete the targets. We are at a area where a decision could be made tomorrow.

We do have higher targets but those are on the daily chart so for now we are trading the medium and short term charts and looking for the closer targets.

Today's low was right at bigger support within a few ticks on the TF and we had blue bars to tell us the move down was most likely over. The color of our bars are a tool just like the patterns and the different time frames we use to trade. There is no magic and we are not selling the "perfect thing", there is no such thing but we have tools built specifically for the patterns we trade.

Happy Trading,

www.eMiniSchool.com