Welcome to neoToolbox.com! Your home for professional tools and scripts for use with eSignal. If you need any custom eSignal scripts (EFS) built, feel free to contact us.

Disclaimer: By downloading and using any of our studies or visiting our blog, you agree to the following disclaimer:  
 
Past performance is not necessarily indicative of future results. The risk of loss in trading commodities can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. All blog posts are merely a collection of thoughts and opinions and are not buy and sell recommendations. neoTOOLBOX.com does not guarantee results, information, or EFS studies and scripts in any shape or form.

Homework for Wednesday 2008.12.17 Summary

17. December 2008

ES - I have a couple very interesting charts that I felt deserved it's own entry.

Here is the 15-min ES chart up to mid-day Wednesday.  You can see how the Gann levels contained this movements perfectly (almost to the tick!).  After a return to the 50% line (270°, half of the 540° move up).  After that, I found it interesting that the movements kept halving on the way up... 90 to 45 to 22.5.   The end of that series (912.75) just happens to be yesterday's close!  How can that be a coincidence?  What if we did this math (right after yesterday's close) and saw all this movement prior?  What if we wrote some software to help identify these possible scenarios for us?  Still learning...

 
 
After the above series of moves, we popped to up to 917.75 daily level and fell hard.  See chart below.  I am admittedly still learning how to use these Gann levels.  I am learning what pivots to take the measurement from, whether to use the high/low or close of the bar, and the factor to use.  However, I can't deny how amazingly accurate they are, if used correctly.  Thus, I am focusing hard on using them and learning from them (and updating and improving my tool that generates them).  You can see today's low was dead on at the 450° level (360+90) and our high was at 540° (360+180).
 

Homework