BS"D

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

Good morning and a good week,

The Resistance at the contract high was formidable again on Friday.
Scored a few points though, which was nice.

Expecting a massive assault on the LT Trend Channel Floor (Daily,
bottom chart, green channel lines) on Monday. Be prepared.

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
Friday June 05, 2009

Morning session opens gap-up at the R2, bobbles there, and heads back to close the gap.

1 = A 123 through the Close pulls back above the PL. Our self-confirming pair of signals principle saved us a
false start here.

A second, high-Volume 123 (blue arrow) makes it a pair!

Price Window to the (always considered proven) Pivot is wide open, and we enter aggressively below the "green
fog". By the close of the candle it feels safe to lock in profits. Move the profit-locking stop above the
plum line/contract high S/R.

Since Price Action came to an abrupt halt at the Pivot, think possible Pivot Scalp Exit.

A = Even before the bottom wick of the large, red, inverted (Bull) Dragonfly retraced > 2 points (one of our
Exit Now! Signals), the Twin Towers (pink arrow), indicating that a stall/sag/retest is next, gives us a second
warning to prepare to jump ship. +/- 4.75 points

[SNIP}

We wait through TGIF lunchtime drift.

5 = A 123 becomes a self-confirming pair with a 2-candle 123 (blue arrow). The Pre-emptive move (green arrow)
is a possible TELL, so when the Volume comes to life, enter below the "green fog".

F = Large red candle. Per PMT stop rules, move the profit-locking stop above the high of the candle.

NOTE: Personally, I'd feel better with the stop at "Free Trade".

G = Slight stall, and another large red candle slams into the Pivot. This is a Twin Towers, so if the Pivot
Support holds prepare to exit.

6 = Tail of large white Bull Dragonfly spikes through the Pivot and gives back > 2 points of profit. That's
an Exit Now! +/- 3 points

NOTE: This is also a "P" Reversal Signal, but it doesn't prove.

[SNIP]

PERSPECTIVE
(Daily, bottom chart)

Once again, the contract high (plum line) defined the day's trading.
The day candle taped a mighty spike through, but the Resistance held.

Overall, things look set up for a slam dunk attempt on the LT Trend
Channel Floor (green channel lines).

REMEMBER: Trade the tape, not my prognosis!

Asher
=] ;-)>
Pivot Magic Trading Course
http://www.tradingthingys.com/PMTJ/Commodity%20Day%20Trading.html

Friday's PMT Chart: