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,

Good morning,

Daytrading Pivot Points rules, as Thursday's Surge-Slide
Maneuver gave us access to one good morning trade (and
one SCRATCH!). The day ran out most boringly, but we
did pay for our time.

TGIF!!!

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
Thursday 02 May 2013

Morning session opens gap-up at the Pivot and then turns sideways mid-way to the LT Trend
Channel Floor (green line) for the next half hour.

1 = A 123 and we enter aggressively as Price Action goes from Pivot Point to Pivot point
and pops through the R1 into the Channel. Advance the stop under the R1.

A = Large white candle. Reduce the At Risk by tightening the stop to 0.25 point under
the R1.

B = Price Action is advancing rather slowly. Instead of moving the profit-locking stop
under the low of this large white Bull Dragonfly (normal PMT stop placement), move it to
Free Trade and a tik.

The next (red candle) makes it a mid-air Reversal, a PMT Exit Now! SCRATCH! 0.75 point

2 = A Trend Channel Floor (green line)/R1 retest 123 "S" Signal.

C = Volume surges (DVS, pink arrow) and we enter on a giant white candle through the High.
Advance the stop to High, locking in instant profit. Yes!

D = A couple of small white candles combine to put our position in Maximum Profit Giveback
(MPG) violation. The Volume is still strong (pink arrow), so we place a mental stop at
Giveback Level.

E = A third small candle. This time, preceding lunchtime, Volume has dropped off, so we
follow our MPG violation rules. Exit. +/- 4.50 points

Lunchtime sideways drift starts on time, halts at the next Pivot Point, R2, and continues
to slide uneventfully,to EOD close just shy of the R2.

PERSPECTIVE
(Daily, bottom chart)

Thursday's large white candle continues the stall at the
LT Trend Channel Floor (green channel lines), closing
back inside the channel. We wanted to adjust the channel
lines for the current portion of the trend, but I can't
really make out anything more appropriate.

BEWARE OF TRAPS ON FRIDAY!

REMEMBER: Trade the Tape, Not my Prognostics!

BE PREPARED FOR ANYTHING, AND GUARD YOUR FUNDS!

Asher
=] ;-)>

Thursday's PMT Chart: