Pivot Point Daytrading - Exit Now Signals - PIC

Commodity and Futures - Physical commodity and financial futures markets. 

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Subject Author Date Pivot Point Daytrading - Exit Now Signals - PIC Asher 06-22-2007
Posted by Asher on June 22, 2007, 8:42 am BS"D Learn to Read the Tape Exploit Pit Pivot Points KISS Daytrading Course ****************************** PIVOT MAGIC JOURNAL - LITE Good morning, Thursday was full of ups and downs as Price Action swung inside the Pivot-Close Channel. Got a couple of decent bites, and a couple of ulcers. TGIF!!! Be well, =] ;-)> ****************************** Pivot Magic Trading First rule: "...Any time you don't know what is happening, get out!" ****************************** Thursday, June 21, 2007 (Escerpt) * * * * * * * * * * * * * * * * F = Lots of Bull DVSs (middle chart, black arrows). This may be a TELL. 4 = One o-five and the BBs are back. 123 kickoff from a Double-bottom pattern. A self-confirming TTT. Volume surges (middle chart, blue arrow, = F) And we are yanked in by a giant white candle at the cost of lots of slippage! Immediate profits unsecured. Mental stop at 2 point profit giveback level. G = Another DVS blip (middle chart, = F, green arrow) yields a large white candle. Move profit-locking stop under the low of the candle. H = Large white candle. Tighten the profit-locking stop under the low of this candle. Approaching Pivot, anticipate Resistance. Prepare for Pivot Scalp or other emergency exit technique. Giant DVS (middle chart, = F, red arrow) drives Price Action just barely through the Pivot. Small red Bear Dragonfly. Looks like a stall. Stay alert, ready to send exit order. J = Hah! Healthy Volume drives Price Action higher. For a low risk, secure conversion from Pivot Scalp to PMT Scalp exit status, call this a second white candle above the Pivot and move profit-locking stop under the Pivot. K = Black DVS (middle chart). The worst sign of failed forward Momentum. Doji spike stretches vaguely north, but fails. Recognize these Exit Now! signals. +/- 6.75 points *********************** PERSPECTIVE (Daily bottom chart) Sure hope that we haven't formed an un-tradably narrow, LT Sideways Channel floor (green dotted line). Friday will be treacherous and full of traps. Usually is! Pivot Magic Trading Course http://www.tradingthingys.com/PMTJ/Commodity%20Day%20Trading.html Thursday's PMT Chart: Http://www.TradingThingys.com/PMTJ/PivotMagic062107.gif Similar Threads Posted Pivot Point Daytrading - Big Bites - PIC March 10, 2008, 10:16 am Pivot Point Daytrading - Spinning Red Top August 7, 2006, 9:11 am Pivot Point Daytrading - Big Bites! - PIC May 25, 2007, 9:09 am Pivot Point Daytrading - Third Time Through August 17, 2006, 8:34 am Pivot Point Daytrading - Read the Tape March 27, 2007, 9:54 am False Breakout - Pivot Point Daytrading August 24, 2006, 8:31 am Pivot Point Daytrading - Hard S/R Floor September 8, 2006, 7:05 am Pivot Point Daytrading - Big Bite From the Middle March 14, 2007, 9:40 am Pivot Point Daytrading - Like Playing Packman March 15, 2007, 10:40 am Pivot Point Daytrading - Large Ranges = Big Bites - PIC December 20, 2007, 9:49 am