Trading the Pivots

Tomorow's numbers.

R1 - 1396
PP - 1388
S1 - 1383

You know the routine.

Trend is up, looking for another Buy opportunity. I don't think the break-out will work (price action is above the Median Pivot and gapping up towards R1).

But that's OK, I don't trade by how I think.

Best Regards,

Jimmy Jam
 
Normally I don't post when I'm trading anymore, but we have an obvious Double-Bottom forming off of the Median Pivot here.

Training your eye to see these patterns of off PP S1 and R1 will greatly assist your trading efforts.

JJ
 

Attachments

Quote from Gav:

Jim,
In this situation, did you look to buy when it bounced from PP?

Gav
More...

Good question.

I stopped out twice on the two trades. The first stop-out was the first cross-over and the second was looking for the double bottom. After two stop-outs on a given system I call it a day. Either the market is wrong or I am. :D

I caught yesterday's run-up for 10 pts and took -3 pts on these trades (I did not trade Monday's run-up using this system) for a total of 7pts for the week.

FYI, I trade more than one system and more than one indice for the e-mini's (a non-correlated approach to trading generates better returns and smooths the equity curve).

Regards,

JJ
 
R1 - 1391
PP - 1386
S1 - 1379

The short-term trend had turn downard, and from these elevated heights there is good potential for major downside action to commence over the coming months.

Intra-day I'll be looking to get short probably at the PP or R1, over the next several months, I think the BEARS are about to get some pay-back.

Regards,

JJ
 

Attachments

Keep up the nice work JJ. I concur with your assessment of bearish momentum coming around the bend based on what I percieve as bearish divergence on the continuous.

Not posting much, but reading a lot. :)
 
R1 - 1388
PP - 1383
S1 - 1381

The trend has turned down, looking to sell R1 or if it drops through S1 (meanining support has broken, I'll look to sell retracements).

Although you don't really get the second setup happening too often in a bull market, I think this market is ripe for a hard fall, at this point, it's not a matter of if, but when.

Regards,

JJ
 
R1 - 1393
PP - 1388
S1 - 1383

Bullish action was strong yesterday with the market breaking out at the open and consolidating during the afternoon session.

While the short and long term trends remain up, with the market moving up to R1 after the close I don't think we'll be seeing another up session tomorrow.

Regards,

JJ
 

Attachments

15:00 ET Dow +70.20 at 12202.08, Nasdaq +13.22 at 2419.60, S&P +7.39 at 1391.81[BRIEFING.COM]

The major averages spike to session highs within the last 30 minutes. Since no specific news can be attributed to the renewed wave of buying interest, it looks as though some big buy programs are behind the recent surge. To wit, the S&P 500 recently broke through a crucial level of technical resistance at the 1389 level. The Dow is now above its all-time closing high after breaking through resistance at 12,190.

Why the big buy programs at 13:38 ? Any body has a clue?( very late reaction to the Econ. Reports !)
 
You must log in or register to reply here.
Back
Top