R1 - 1376 PP - 1372 S1 - 1367 Minor trend remains down for the ES, while I didn't get a chance to enter a Short yesterday, so I just avoided the chop. Market is gapping up, and I'll be looking for a Shorting opportunity right around R1 (1376). Regards, JJ
Got a doctors appointment, so I'g gona bag it right here. While the market is bearish, it is not extremely so, and it is mos likely that S1 will provide sufficient support for the market today Regards, JJ
JIMMY JAM..........your additon of using the SAR indicator in conjunction with pivot analysis is a real gem.......thanks for the helpful info
Glad it helps. I actually use a proprietary indicator to give me confidence in my signal(s), but I find that the PSAR is a pretty good simulation of it. Regards, JJ
R1 - 1375 PP - 1370 S1 - 1364 Price action is gapping up to R1 @ 1375 ... the established short-term trend remains down, so I'll be looking to get short. Regards, JJ
JJ, you say the short-term trend is down, are you basing this on an objective indicator, is this subjective as you interpretation? Thanks
I base it on the Pivot Point in relationship to its 3 and 5 day average (it's like a basic moving average indicator). However, as you can see, the market has blown past R1, and is currently meeting resistance at R2 (1382). I currently am FLAT, and will only SHORT if the market starts to sell-off (could happen after Lunch, I don't know as of right now). I am enclosing a chart of the last 3 days of trading to show you what I mean.
R1 - 1391 PP - 1379 S1 - 1372 The uptrend resumes. Big surprise there. I'll look to get long at or around the PP, depending on how price action responds to the support areas. *** While I did not trade on the Long side yesterday, nor did I get an opportunity to get Short, so I remained Flat for the day. Did trading in a systematic fashion give me a profit yesterday? No Will trading in a systematic fashion give me a profit in the long run? You Betcha. Regards, Jimmy Jam edit: He Caddy, I see you stopped by. I'm sure the trading is going well for ya! Later.
R1 - 1394 PP - 1388 S1 - 1383 Didn't get a chance to post yesterday. Market did a lot of good action around the S1 Pivot, moving up later in the session to R1. I've been working on a few other things. This thread has been immensely productive, assisting me in ironing out a lot of concepts that I've had, and exposing me to quite a few new ones that I've been able to play around with and make profitable use of. I'll go with the flow through the end of the year, and then move on to other projects. Regards, Jimmy Jam