BT's Classroom

[pHiLtHy]

ES charts for today...

here's a zoomed out view of the 3200 tick with TLs and forks... this played out very well today.



here's a zoom "in" view so you can get a closed up of forks and fibs. You can't see it on this chart cuz it's a heiken ashi candle globex chart but i scalped a gap close trade and then then it sold off... when bounced down around 1292 I put the large fuschia fork in place. "the trade" today was the 50% pull-back off that bounce... after reaching it's fib extension target, i took profit. it then pulled back, so i added the smaller light pink fork looking for a reset and reload. note the fib tool on the smaller pink fork. price consolidated during lunch which i monitored on a 5 min. chart, it then broke out of consolidation. i was able to get a good entry off the 5 min. chart trading a tight consolidation pattern. when price broke above the upper boundry of the smaller fork, i knew that the upper boundry of the larger fork was an easy target, plus the fib extensions lined up in that area as well.