Daytrading Course
Learn to Read the Tape
Exploit Pit Pivot Points
******************************

PIVOT MAGIC JOURNAL - EXCERPT

Good morning,

Just as we anticipated in yesterday's PERSPECTIVE:
". . . Tuesday's massive Bull Price Action was false. . . Price Action may well retrace the entire gain on Thursday."

Made for some wicked swings and a nice 15+ point Pivot Magic Trade.

TGIF!!!

Be well,

=] ;-)>
******************************

BS"D

Pivot Magic Trading
First rule:
"...Any time you don't know what is happening, get out!"
******************************

E-mini
Thursday March 13, 2008

. . . [SNIP] . . .

4 = Volume had picked up a bit, implying the BBs are back from drinking lunch, so we allow ourselves to be pulled in on the
large white candle, at our defined "proven" distance above the S1. Initial stop is advanced under the S1.

B = Large white candle. Per our PMT stop rules, move profit-locking stop under the low if the candle.
Oddly, Volume has dropped off, and the next candle is quite small as Price Action prepares to enter the "green fog" Ambush
Zone. Stay alert.

C = DVS (middle chart) and we get a nice surprise as the tape displays a giant white candle ripping through the Low, Close,
LowM, and MidW. The opening-gap-closing penetration is sufficient to warrant moving the profit-locking stop under the MidW.

The next candle is diminutive, in spite of continued elevated Volume. Anticipate a Pivot Scalp exit if Price Action wavers at
the (always considered proven) Pivot.

D = DVS (middle chart) drives a spike through the Pivot, taps on the Historical S/R (aka: old LT SW Channel floor, lavender line),
and pulls back. As soon as Price Action returns below the Pivot, Pivot Magic Trading Pivot Scalp Exit. +/- 15.25 points

. . . [SNIP] . . .

PERSPECTIVE
(Daily, bottom chart)

Early in the day, Price Action retraced virtually all of Tuesday's gain, but by EOD closed back
where Wednesday had closed. No net change.

Friday is anybody's guess, but it looks like a set up to test the lavender line (Historical S/R
and floor of recently exited LT Sideways Channel).

Always beware of traps on Friday!

REMEMBER: Trade the Tape, Not my Prognostics!

Asher
=] ;-)>
Pivot Magic Trading Course
http://www.TradingThingys.com

Thursday's PMT Chart: