Trading the Pivots

Now, in each and everyone of these examples, the price action of the market, in relation to its previous open / close, told us what to do.

The action of the CCI Histogram and the 9 SMA told us when to initiate trade, and when to close a losing trade.

The action of the Pivot Point, Support and Resistance told us when to take profits, provided we choose to hold onto the trade until they were hit (instead of just taking a quick 2 pts of profit and calling it a day).

The trading theory and logic make sense to me, I'll be testing it out going forward.

Best Regards,

Jimmy Jam
 
Heads-up.

Friday's Close was Lower than the Open, after a Big run-up over the previous week.

I'm going to be looking for some shorting action.

Might not get it Monday, but I will be getting it soon.

Regards,

JJ
 

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>>Enclosed are some charts exhibiting examples of what I mean, by observing them you will see why I came to the conclusions that I have and am taking the Journal in this direction.

Best Regards,

Jimmy<<

Still to come??? :)


Charly
 
Quote from Charly:

>>Enclosed are some charts exhibiting examples of what I mean, by observing them you will see why I came to the conclusions that I have and am taking the Journal in this direction.

Best Regards,

Jimmy<<

Still to come??? :)


Charly
More...

The charts show how price responds to the Previous Open / Close of the day before. In other words, they show how traders/investors/instititions are valuing the market, with respect to how it was valued previously.

These new valuations may change when price encounters the Resistance, Pivot or Support areas, and quite often does in fact do so.

I see that you are a new poster, if you need to review the evolution of the thread, please re-read it, if you need to understand the concept that I am talking about (or any concept in trading for that matter) you need to pull-up at least two weeks worth of charts, if not a month, to observe it in action.

This thread is mean't to explore different trading concepts in action, not spoon feed anyone.

If you want to be spoon-fed, please look else where.

Regards,

Jimmy Jam

edit: I don't like to deal with badgering posts during market hours but really, if you don't understand what I've written, please ask me in a respectfull manner or PM me, and then I will elucidate on the subject matter. But don't make rude comments after all the work I've put into this and the time it has taken from me. If you don't like what I write, please don't read the thread.
 
I hope your new method works. On my own method I got into just 1 trade today for just $ 40 profit. I missed 2 trades since I was not watching the charts like now while I post my message and read other things.

This tells me I need to try to focus more during market hours.

Also, was a little afraid to get into a 2nd trade after making a profit on the 1st. Again, this tell me maybe I need to look in the psychological forums since fear has been holding me back.

Hope you make some money today.
 
The marekt found support at S1 and traded back up into the previously established range (Friday's trading). If it breaks back through the Previous Close, with the CCI Histogram crossing the 0 Line that will be a Sell Signal.

If it doesn't, just stand pat until it breaks out through the other side (which I don't believe it will do-we've been on this bull run for quite some time now, but the markets can do anything).
 

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Quote from oraclewizard77:

I hope your new method works. On my own method I got into just 1 trade today for just $ 40 profit. I missed 2 trades since I was not watching the charts like now while I post my message and read other things.

This tells me I need to try to focus more during market hours.

Also, was a little afraid to get into a 2nd trade after making a profit on the 1st. Again, this tell me maybe I need to look in the psychological forums since fear has been holding me back.

Hope you make some money today.
More...

Thanks Oracle, I appreciate the kind thoughts.

But I'm not trading this method, it's an experiment in modelling the markets, and using that information to enter trades. Previously I used the Pivots as triggers for entering trades, now I am using them as targets for ending them.

I repeat I do not trade this method

I trade my own method which, it goes without saying at this point, I'm certainly not posting to an anonymous blog, for reasons which are obvious, to me at least.
***
You're expereince of missing your trades is a great example of but one reason why I'm not into the posting real-time trades on Elite Trader school of thought. Also I see this as being more a concept forum, I'll be making a short (very) list of threads today for people who want something more concrete.
***
S1 gave a good buy signal (worth at least 2 pts), if anyone has an indicator/tool/signal that they can use, that tells them when it is safe to take a trade off of Support when the market is down, or Resistance when the market is up, please use it.

Previously I recommended using the TRIN, at which point someone complained about it, someone else made another great recommendation of using the indices (SPX, NASD, DOW) in relationship to each other, and yet another poster throughly shot that idea down.

See what I'm saying here folks ... get what you can in terms of information from the thread and apply it to your trading.

Regards,

JJ
 
According to the method as described, we would have a short at 1332.00, stop at 1334 or until the CCI Histogram recrosses the 0 Line.
 

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