BS"D

Good morning,

Long Term Trend Channel Floor tested twice and holding!
Most of the day Thursday was a slow sideways crawl, far
from any of our tradable PLs.
Dull, and except for one trade, most unprofitable.
TGIF!!!

Enjoy and be well,

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PIVOT MAGIC TRADING JOURNAL - EXCERPT
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E-mini
Thursday July 30, 2009

1 = Morning session opens gap-up with an Anomaly Double Bottom (Overnight, bottom left chart) off the
R2 and LT Trend Channel Floor (Daily, bottom right chart, green channel lines).

A = Volume confirms (pink arrow), and generates a large white candle, pulling us in, and then crossing
the R3. Although Price Action only peaks a bit through the R3, by the close of the candle our stop
belongs at least at "free trade" and a tik, if not in fact advanced all the way under the R3.

B = Huge DVS (pink arrow) pumps a huge white candle off the R3, putting our position in violation of
Pivot Magic Trading Maximum Profit Giveback (MPG) rules. Place mental stop at Giveback level.

NOTE: This candle also completes a 2-candle 123 through the R3, and is thus a great opportunity to add
contracts (even pretty early in the candle!)

C = Nervous stall, followed by a large white candle, which again puts us in MPG violation. Mental stop
at Giveback.

D = Presents us with a series of choices:

* First red candle retraces almost 2 points.
We could exit.

* Next candle (white) doesn't recover the
Momentum, but it might be called a large
candle. As such it permits us to advance
the profit-locking stop under the low of
the candle. A pretty safe spot, BTW.

* Next two candles are unable to settle
the Bull-Bear tug of war. With our stop
safely nearby, we fearlessly hold.

E = Failed test of MA. Not much to do here, but since the close of the white candle puts our position
in MPG violation, in case of a sudden reversal, convert the profit-locking stop to a mental stop at
Giveback level.

F = Call this a large white candle, and, per PMT stop rules, move the profit-locking stop under the low
of the candle.

Four candles later, the tiny white Bear Dragonfly completes the advisory that the Bears are about to take
over sente. When the next candle crosses the MA, Exit Now! +/- 7 points

The rest of the day spitefully drifts sideways with the MA, far from any of our PLs. We, of course shut
down early, missing the EOD run back down to retest the LT Trend Channel Floor (green line).

PERSPECTIVE
(Daily, bottom right chart)

The violent struggle at the LT Trend Channel floor continues.
EOD Price Action settles atop the Channel Floor (green line),
telling us little.

Whatever else is in store:
BEWARE OF TRAPS ON FRIDAY!

REMEMBER: Trade the Tape, Not my Prognostics!
Asher
=] ;-)>

Pivot Point Trading Course
http://www.tradingthingys.com/PMTJ/Commodity%20Day%20Trading.html

Thursday's PMT Chart: