BS"D

Exploit Pit Pivot Points
Daytrading Course
Learn to Read the Tape
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DAILY PIVOT MAGIC TRADING JOURNAL - EXCERPT

Good morning,

Had a lovely family gathering, but it looks like I sure missed a
bunch of action/profit while I was gone! We scored nicely on the
Plunge portion of Wednesday's Plunge-Slide Maneuver, however.

Note that Volume seems to be up overall, and that the Daily tape
reads, "Be Nervous". LOL! Prepare for anything on Thursday.

Enjoy and be well,

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Pivot Magic Trading
First rule:
"Any time you don't know what is happening, get out!"
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E-mini ES H3
Wednesday 17 April 2013

Wednesday opens gap-down at the S1 and continues south.

1 = A Doji Sandwich 123 retest of the S1 underbelly affords an "S" Signal entry opportunity.

A = We are pulled in on a large red candle through the Low. Advance the stop above the Low.

B = Close call Price Action backlash, but the Low and MA hold for a large red candle. Per our
stop rules, move the profit-locking stop above the MA, or better yet, to Free Trade.

NOTE: ABS is rather bloated. To avoid getting stopped out at every Price swing, expand the exit,
stop, and Maximum Profit Giveback (MPG) placements.

C = Large red candle. Not sure what to do? Normal stop placement on this relatively small (small
for Wednesday) candle leaves us in MPG violation. Since Price Action is near the Primary Objective,
S2, a mental stop at Giveback Level is doubly welcome.

The next (white) candle taps on S2 and retracts. That's a PMT Exit Now! signal. +/- 3.50 points

2 = A 123 continuation "S" Signal, and we are pulled in as a large red candle (blue arrow) crosses
the S2.

D = Large red candle makes it a 2-candle 123. Add contracts, and move the stop to Free Trade and a
tik or two.

E = A pair of small Doji Spinning Tops makes for a brief stall, and DVS (pink arrow) blasts a giant
red candle through the S3. Per our stop rules, move the profit-locking stop above the PL (adjusted,
per NOTE, above).

F = A 123 retest fails with a large red inverted (Bull) Dragonfly. Both the Twin Towers (pink arrow)
and the inverted Dragonfly warn that a stall/sag/reverse is coming next. Since the tail of the red
candle has already retraced/recouped most of 2 points, place a mental stop above the LowW with plans
to jump at 2.75 retracement (including the tail). +/- 5.75 points

3 = This Reversal does not take off.

4 = Volume is down, making a lunchtime entry beyond the S3 particularly unappealing. Pass.

5 & 6 = Neither the 123 below nor the 123 above has enough support to trade during lunchtime drift.
In fact, Price Action bounces inside the S2-S3 channel all the way to EOD close.

PERSPECTIVE
(Daily, bottom chart)

Wednesday taped another giant red day candle outside the LT Trend
Channel (dashed green line). An Expanding Triangle (lavender lines)
has become apparent on the tape. These things are hard to read,
Bull or Bear? Gut says a Bear breakout is the more likely.

REMEMBER: Trade the Tape, Not my Prognostics!

BE PREPARED FOR ANYTHING, AND GUARD YOUR FUNDS!

Asher
=] ;-)>

Wednesday's PMT Chart: