Here's a bird's eye view of our ES. Not much to like about that big drop, mind you (other than making money). In any case, if you said 1840 sometime soon, we wouldn't argue with you. Of course, it's all in the details, i.e. the execution and risk management. Not easy. (But we knew that, the market doesn't pay us for nothing.)

One note about Fibonacci numbers: many of you have noticed, we use 55 and 89 and 21 on our range charts. We do. We know them, we've used them since we can remember. But that's all there is to it. We are well aware of their insignificance (including Adam Grimes's research: we could look at 22R and 50R charts, just the same.  (We'll still look at range charts though, and there's a reason for that. More about that in another post.) The only reason we keep these numbers is because we've been looking at them and drawing conclusions for so many years, we don't see the point in changing them to 23 or 56 or whatever. Point in case: range charts have served us well.

The main thing when we look at any chart: can we see reliable hints of what the market may be up to? What big players who can move it may have in mind? What would we be doing on this chart if we had - nearly - bottomless pockets? If you can figure out the answers to those questions, you have a lot to work with, and you have that legendary, much-sought-after 'edge' everybody's talking about.

Mindful trading, guys! Read them charts well!