Trading the Pivots

For Wednesday, 09/13/06

Market Status

15 Minute Trend: Bullish

1st Resistance: 1338
Median Pivot: 1320
1st Support: 1313

Current Trend: Up
***
I've revamped the tool that I use to determine market trend, based on other reading and studying I've done which is not related to Pivots, but is related to trading.

We'll be using the 15 minute timeframe with a 40 period Simple Moving Average to determine the dominant market trend.

When the market have experienced expansion and the range starts to narrow I will be willing to trade against it, but when the range is tightening and the market is getting ready for a breakout, I will only trade in its direction.

The more we work with it, the better we'll get at it.

Best Regards,

Jimmy Jam

edit: the chart will show you what i mean
 

Attachments

Hi JJ,

I use trade station. How do you get the 1st resistance, medium pivot, and 1st support to plot as line on the chart, and/or how do you calculate these points?

I downloaded a pivot line thingy, but after upgrading to latest build, it stoped working as well as before.

Quote from JimmyJam:

For Wednesday, 09/13/06

Market Status

15 Minute Trend: Bullish

1st Resistance: 1338
Median Pivot: 1320
1st Support: 1313

Current Trend: Up
***
I've revamped the tool that I use to determine market trend, based on other reading and studying I've done which is not related to Pivots, but is related to trading.

We'll be using the 15 minute timeframe with a 40 period Simple Moving Average to determine the dominant market trend.

When the market have experienced expansion and the range starts to narrow I will be willing to trade against it, but when the range is tightening and the market is getting ready for a breakout, I will only trade in its direction.

The more we work with it, the better we'll get at it.

Best Regards,

Jimmy Jam

edit: the chart will show you what i mean
More...
 
Quote from oraclewizard77:

Hi JJ,

I use trade station. How do you get the 1st resistance, medium pivot, and 1st support to plot as line on the chart, and/or how do you calculate these points?

I downloaded a pivot line thingy, but after upgrading to latest build, it stoped working as well as before.
More...

Hey oracle,

I don't have tradestation, so I don't know. But the spreadsheet on page 22 has the formulas for generating all of the pivots (but we won't be using that stodgy old Pivot Trend model anymore, will we.)

Also, I do use Medved Quotetracker, and it's Pivots are great.

Best Regards,

Jimmy
 
Quote from DonKee:

Ding Dong

They rang the bell at R1 1331.50
More...

Um, maybe.

There is divergence in the 15 min MACD, but price action is still above the 40 SMA and the trend (obviously) continues to be up.

Using the old 40 and 18 SMA the trend has not turned down on the 3 or 5 minute either (although you may get a reversal according to those rules).

So as far as the thread goes, I wouldn't enter short just yet.

As far as my own (real) trading is concerned, I've been working on building in an exception handling clause into my modelling which can effectvely deal with reversals against the dominant trend (gleaned from my work here), so either way, I'm not trading right now, and I'm actually pretty busy.

Best Regards,

JJ

edit: not to mention that it's already 3:35pm, man, where did the time go?! - off to work (yeah caddy, I do work at a job)
 
Hope you did your home work.

R1 - 1333
PP - 1328
S1 - 1324

So Long as price remains above S1, price action is likely to be surpported by buyers when the market is in a defined uptrend.

So anytime you want to buy is fine with me.

Long @ 1327.50

jj
 
Quote from JimmyJam:

Hope you did your home work.

R1 - 1333
PP - 1328
S1 - 1324

So Long as price remains above S1, price action is likely to be surpported by buyers when the market is in a defined uptrend.

So anytime you want to buy is fine with me.

Long @ 1327.50

jj
More...

Tough hold and I epect to be compensated for sticking to my convictions.

Long @ 1327.00.25

(that's 2 sets of contracts).

This works to R1 most likely, and I'll be looking to liquidate up around thereabouts.

Best Regards,

JJ
 
It's slow going and a rainy day here in NYC, price action is grinding upwards and bullish action is holding ... setting trading ap to MOC and getting some long overduen lunch, I'm hungry.

Best,

JJ
 
R1 - 3322
PP - 1328
S1 - 1326

***

With price action breaking-out past R2 (which is at 1335) I would not short this market just yet, I would instead look to manage a long position until the markets proves this to be a blow-top, which I think it might be (the proof would come with price action moving strong down back through R2.

Best Regards,

JJ
 
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