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Posted by Asher on January 14, 2008, 10:31 am
BS"D
Exploit Pit Pivot Points
Learn to Read the Tape
KISS Daytrading Course
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PIVOT MAGIC JOURNAL - EXCERPT
Good morning and a good week,
Traps galore on Friday. We squeaked out a few trades.
Hopefully you didn't fall into the traps!
And Monday?!?
Be well,
=] ;-)>
******************************
BS"D
Pivot Magic Trading
First rule:
"...Any time you don't know what is happening, get out!"
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E-mini
Friday January 11, 2008
. . . [SNIP] . . .
4 = Full Double Top pattern of the MA, preceded by a sufficient
up trend to call it a "P" signal at the MA. [You may have easily
missed this rare, but acceptable, "S" mid-air signal. See "Pivot
Magic Trading Course", Volume I., page 88]
Entry was on the large red candle, which also permits us to advance
the initial stop above the MA.
F = DVS (middle chart) generates a large red candle.
Move profit-locking stop above the high of the candle.
G = Large red Bear Dragonfly puts the position in violation of the
Profit Giveback rules. Mental stop at the Giveback level.
H = Large red candle puts us once again in violation of the Maximum
Profit Giveback rules. Mental stop at Giveback level. Note however
that this is also a Twin Towers (middle chart), suggesting a stall/
sag
is next. Prepare!
As soon as the next candle shows white, that's a classic "Exit
Now!".
+/- 7.75 points
. . . [SNIP] . . .
REMEMBER: Trade the Tape, Not my Prognostics!
Asher
=] ;-)>
Pivot Magic Trading Course
http://www.TradingThingys.com
Friday's PMT Chart:
Http://www.TradingThingys.com/PMTJ/PivotMagic011108.gif
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