nice one Steve, thanks. N.B. Not trying to be an ass, but could you possibly note in your diary that I am appreciative for the 2nd time now
Believe me its not necessary. Noted as you wish, however I "do it" for my own reasons... Good luck Steve
Thanks for the info Steve. Much appreciated. I definitely have my homework cut-out for me this weekend, I'll take a hard look and see how I can integrate it into my current model. *** Boy, it's been a busy day! Did anyone catch that reversal in the NQ? I did (toldja I was expecting rangy choppiness, and the shifting in the NQ's Pivot Trend gave me permission to take the trade). Don't be surpised if it bounces right back up, there's certainly enough time for it to.
Here is a corrected 5 min chart showing the proper place to take profits Daily pivot on top and S1 is where price tells me to take a piece off the table. In my hurry to post, I showed the weekly as the place to take profits, sorry, my bad. I am not good at posting and trading.. Steve
Yes indeed I couldn't resist that failure short. Filled at 2 and a quarter. Took a piece out at "the number" (1300) and held a small piece down to the test of S1 (1298). Steve
I'm betting that it does, too. Long @ 1301.75 P.S. If you have a method for taking the trade off the Pivots/Support/Resistance that gets you in sooner that you are comfortable with, by all means, use it. Psychology and familiarity with trading tools are the most imporant assets that a trader has.
Just missed my second exit on my morning long as we came within 1 tick of my exit. Darn those Fed guys Long at the S1 1298.50 Bailed on half at 1300.50 Bailed on half of the half at 1302.25 (PP) Will trail the remaining quarter at b/e or 2 ticks below the previous 30 minute bar, hoping to exit moc. The R1 and S1 provided a great map for the day. It seems these pivots work really well when volume is a little light and we are chopping. That provides an easy scenario for the floor traders to play the pivots, and for me to follow along. LOL