Trading the Pivots

As promised, here are the updated System Rules.

They are very simple (purposefully so).

They are designed as the basic framework of a good logical system (only take Longs when the Pivot Trend, i.e., Market Trend is Bullish / only take Shorts when the Pivot Trend is Bearish).

Best Regards,

Jimmy Jam

P.S. I will update them as necessary.
 

Attachments

In case you need another copy, here the Pivot Trend Calculator.

Review the data, check the charts for yourselves (always).

The only time when the model will not perform as expected is when the market Chops ... the Pivot Trend will enter Bullish mode, and then them market will reverse back down, then it will enter Bearish mode and of course, reverse back up.

It is during those time periods that it would be better to just "it on your hands"

Best Regards,

Jimmy Jam
 

Attachments

Last but not least it is through studying the writings of traders such as:

4re (Gary)
Cheese
Steve46
My Mini
5Pillars
MarketSurfer
B1S2

among others here at ET that I have, in part, formulated many of my thoughts about trading the markets, both for this system and for my own proprietary models.

Thanks all,

Jimmy
 
For Monday, 8/21/06.

Market Status

Pivot Trend: Bullish

1st Resistance: 1311
Median Pivot: 1304
1st Support: 1300

Current Trend: Up
***
Hope everyone had a nice, relaxing (or if not relaxing, then productive) weekend.

Market continues it's strong move upwards, I'm expecting either a tight consolidation or a DOWN/UP move, since the Pivot Trend is Bullish, I would not be initiating a Short position (using this model) on the DOWN move, but would look for one of the Support Levels to hold so I could initate a Buy.

S1 provided great support for a Bullish close on Friday, let's see how it holds up on Monday.

See you at the Open.

Best Regards,

Jimmy Jam
 
JJ,

I assume you won't consider the 10:10a bar a "continuation sell" signal because you have your pivot trend in a bull move, correct?
 
Seeing the Setup before it happens.
1. When/If Price Action enters the area between the 18 and 40 sma's (target circle) get ready to enter trade.

Taking the trade
2. When/If Price Action breaks through the 18 and 40 sma's (target circle), with confirmation by the CCI Histogram, you will have a Reversal Buy off of S1.


P.S. Anyone take a look at the TRIN this morning?

Notice how it's above 1.05, but price isn't dropping? I don't think it will too much from here (and even if it did, you still have S2/S3 to catch the reversal).

Jimmy
 
Quote from DonKee:

JJ,

I assume you won't consider the 10:10a bar a "continuation sell" signal because you have your pivot trend in a bull move, correct?
More...

Correct :D !

While there are times when you can trade against the basic system, the market is not consistent in delivering them.

So I'm just focusing on mastering the basics here.

JJ
 
Quote from JimmyJam:

Seeing the Setup before it happens.
1. When/If Price Action enters the area between the 18 and 40 sma's (target circle) get ready to enter trade.

Taking the trade
2. When/If Price Action breaks through the 18 and 40 sma's (target circle), with confirmation by the CCI Histogram, you will have a Reversal Buy off of S1.
More...

The system is long at 1302.5 on the ES.

(I think I'll point out the trades ahead of time like this, this way I am not rushed to make the post, and I can concentrate on my own trading as well).

Regards,

JJ
 

Attachments

You must log in or register to reply here.
Back
Top