Trading the Pivots

Quote from volente_00:

I got a short off at r1, don't think we will break out at night but we'll see.
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I don't think we're going to have a successful break-out at all, but you never know with this market.

JJ
 
Quote from JimmyJam:

I don't think we're going to have a successful break-out at all, but you never know with this market.

JJ
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This is actually very bullish price action.

The Median Pivot is going to provide support going into the afternoon session.

JJ
 

Attachments

R1 - 1412
PP - 1408
S1 - 1405

Price is currently holding at S1, if it breaks and crosses back over look to Buy, if Price Action holds below S1, the Bears are about to have some fun.

Regards,

Jimmy Jam
 

Attachments

R1 - 1408
PP - 1404
S1 - 1399

The market trend has turned Bearish in terms of its Secondary (Minor) Trend. The primary trend is still Bullish and remains intact until 1380.

I'll look to get Short at R1 ... is the party finally over?

We'll see.

Regards,

JJ

edit: What would make me Buy at this point? A strong break-out testing R1 with positive internals, the other indicies in the green and support from the bankers.
 

Attachments

Good call!

Quote from JimmyJam:

R1 - 1408
PP - 1404
S1 - 1399

The market trend has turned Bearish in terms of its Secondary (Minor) Trend. The primary trend is still Bullish and remains intact until 1380.

I'll look to get Short at R1 ... is the party finally over?

We'll see.

Regards,

JJ

edit: What would make me Buy at this point? A strong break-out testing R1 with positive internals, the other indicies in the green and support from the bankers.
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Thanks for the kudos K.

Now, just string'em together and what do we have?

A pretty good equity curve! :D

Getting there.
***
R1 - 1399
PP - 1391
S1 - 1375

Hey you know what?

Since price is sitting below the PP, I would expect it to hold it back during tomorrow's session. So I figure a pop up to 1390-1391 that gets hit with more selling.

Gotta get some sleep.

JJ
 

Attachments

R1 - 1393
PP - 1386
S1 - 1381

Yesterday gave us a Buy off of S1 (well, actually between S1 and the PP point) but the market was too strong for the PP to hold price action back.

While it looks like it's in break-out mode now, the internals aren't really supporting price action.

While the short-term trend has moved back to bullish mode (ya think?), I'll look to get Short on any weakness.

Regards,

JJ
 

Attachments

Well, market isn't showing weakness (didn't close below R1 when it was tested), so I'm Long for now, willing to reverse if this is a false breakout and it breaks back down (but as I write, that ain't happening).

See that's the thing about having a journal and writing something in it. You become responsible for what you say, and need to explain yourself (trading logic) in more detail to show your thinking. That's a lot of responsibility.

Regards,

JJ
 

Attachments

Quote from JimmyJam:



See that's the thing about having a journal and writing something in it. You become responsible for what you say, and need to explain yourself (trading logic) in more detail to show your thinking. That's a lot of responsibility.

Regards,

JJ
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Boy you got that right. I know I made a jackass out of myself several times in my journal. But it is a learning process.
 
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