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Trading the Pivots
- Thread starter JimmyJam
- Start date
Quote from Bogan7:
Just a quick question as I am new to the site but i was wondering how often the pivot points you trade off are profitable for your good selves. I realize it is not that simple but would be interested in a reply or two
Cheers
Bogan 7
Good question.
After years of sitting here watching these markets, for the financials I would say you'll hve 3 good days of trading out of 5, with one of those days giving you serious range expansion on average.
The other two days of the week will tend to be fairly narrow range days (can get a decent 2 pts in one direction) and/or just very tight back-and-forth action (nothing there).
Regards,
JJ
Quote from JimmyJam:
R1 - 1395
PP - 1387
S1 - 1384
Tomorrow's most likely course of action?
Failed breakout test of R1. I'll be looking to continue to Buy any dips though, so long as the market remains bullish I'll have to run with'em.
Regards,
Jimmy
It's been a long and frustrating morning/afternoon folks, dealing with MTA bureaucrats and their sucky little jobs.
But then I come back here, take a peep in at the market and just catch the rhythm again.
I kinda like the way my last 10 or so calls have been going, they are just the tip of the iceberg that tells me all the work I've done is beginning to bear fruit.
***
Just in case you're wondering:
a) I use the previous nights analysis to condition my mind for how I want to trade the next day, this takes away the quality of being indecisive.
b) I use different criteria to take the setup. While my methods are proprietary, that's OK, yours can be too.
c) I let my indicators tell me what to do, as a technical analyst, I have to let the indicators and gauges do their job, or else I'll crash and burn!
Just get your system together and trade it.
Regards,
JJ
Attachments
R1 - 1392
PP - 1386
S1 - 1379
The Buys didn't deliver the gains last Friday, and the short-term market trend has turned downwards.
Now, IMHO, the market will in all probability deliver a good Buy off of S1 before it'll give a Sell Signal, but I'm staying on the Sell side tomorrow. Looking for a potential short off of R1.
Regards,
JJ
PP - 1386
S1 - 1379
The Buys didn't deliver the gains last Friday, and the short-term market trend has turned downwards.
Now, IMHO, the market will in all probability deliver a good Buy off of S1 before it'll give a Sell Signal, but I'm staying on the Sell side tomorrow. Looking for a potential short off of R1.
Regards,
JJ
Attachments
Quote from JimmyJam:
R1 - 1392
PP - 1386
S1 - 1379
Now, IMHO, the market will in all probability deliver a good Buy off of S1 ...
This trade is going to encounter resistance once it gets up into the main PP, if you're Long, you should think about moving your stop to break-even or liquidating your trade.
Regards,
JJ
Attachments
R1 - 1387
PP - 1383
S1 - 1379
Boy, this market just won't fall!
With yesterday's bullish action, the short-term trend has turned back up, so I'll be keeping a close eye on S1 tomorrow.
While I got my 2pts off the R1 pivot yesterday, the bulls have proven to be extremely resilient in terms of buying the dips.
See ya at the open.
Regards,
JJ
PP - 1383
S1 - 1379
Boy, this market just won't fall!
With yesterday's bullish action, the short-term trend has turned back up, so I'll be keeping a close eye on S1 tomorrow.
While I got my 2pts off the R1 pivot yesterday, the bulls have proven to be extremely resilient in terms of buying the dips.
See ya at the open.
Regards,
JJ