Oh, one more thing relating to predictive extrapolation out in time. That's the benefit of pivots vs indicators they are predictive. This Ensign software I'm using has something called a Pasavento map which draws wave patterns out into the future. The last couple nights I printed charts with these patterns on them and there is some good correlation. Swings highs and lows and sometimes timing is very accurate. Anybody know more about this. Maybe soon I'll go back to the start of this thread and figure out how to print a chart to share. If an Aussie can do it a Minnesota guy should be able to do it too.
Oh crap! In the time I took to write this last post there was a perfect signal and another good 2 pt move. The market made a dead cat bounce off the trendline I described and went south nicely to near todays lows. Sweet! I may not wait long for a cocktail today.
I wasn't able to trade this morning as an employee called in sick and I had to go do his job for him. A few trades today, up 1.2. I need to use a market order to get out, probably cost myself about .6-.8pts getting out.
And this is civility and fairness? <a href="http://www.elitetrader.com/vb/showthread.php?s=&threadid=75715&perpage=6&pagenumber=29">http://www.elitetrader.com/vb/showthread.php?s=&threadid=75715&perpage=6&pagenumber=29</a>
The first two minute chart is actually for tomorrow with the pivot points marked by lines. The second chart is todays chart and the pivot point lines were on there before the day started. I marked the ER2 signals with little arrows. I guess my point is look for ER2 signals around these pivot points. I think they are very complementary. Oh, I also use little trendlines on the pull backs to assist with entry's.
Beeflover.. "This Ensign software I'm using has something called a Pasavento map which draws wave patterns out into the future. The last couple nights I printed charts with these patterns on them and there is some good correlation. Swings highs and lows and sometimes timing is very accurate. Anybody know more about this." See this thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=81030