R1 was still 1307 on my chart.
Trading the Pivots
- Thread starter JimmyJam
- Start date
Really quick.
See how the ES is meandering between the Pivot and S1. It's setting up for a Buy Signal.
If it were going to sell-off, it either would have gapped-up to R1 or broken down through S1.
The market(s) are showing short-term signs of turning down from the extended uptrend, yes, but over the next 5 minutes, my money says that we get at least a 4 pt move (or more) to the upside.
Welcome to intra-day trading.
JJ
OK, you probably meant 1407.
Charting software doesn't use the fixed formulas (that are easily available for public use), I'm pretty sure they use a formula which takes the overnight trading into consideration.
I don't know ... but FYI I use the calculated (spreadsheet) numbers as a general guideline when looking over potential setups the night before and the Pivot Points which are generated on my chart to trade by the next day.
Regards,
JJ
LOL, my bad yea 1407-1408 area
Just took at short at 1406 with a 2 point stop
Just took at short at 1406 with a 2 point stop
Yep, took a look at all of them.
That's why I just use the basics for the thread. Generating and trying to trade by all of those numbers would be a seperate job unto itself.
BTW, speaking of basic Pivot Points, John Person has a new book out on trading them.
I'm not trying to hawk his wares, his website, or his publications, I'm giving the information out as just that, information.
Regards,
JJ
That was my 5th trade today, based on previous resistance and my belief in 10:30 reversals. 1405 is my "pivot area" right now