The last screen shot shows the TF and you can see how I missed the entry because I placed my order at S2 and not at S1 (was more conservative as the TF moves more and is more highly leveraged).
Friday, December 24, 2010
Using the pivots to setup my trades
As promised here are some screenshots (TOS platform) of my entries for my futures trades yesterday.
As you can see I like to view all 4 different time frames with this tool and I also have the Persons Proprietary indicator on (the yellow and blue arrows). I use a weekly time frame pivot for the daily chart and a daily time frame for the other 3 (hourly, 15min and 5min). This wasn't a perfect entry as the low of the day was 1249.25 but it's good enough as the ES found support and rallied off it. If you had use the regular floor trader pivots (see screen shot below), you may have gotten a better entry as the ES bounced off that support perfectly.
The last screen shot shows the TF and you can see how I missed the entry because I placed my order at S2 and not at S1 (was more conservative as the TF moves more and is more highly leveraged).
The last screen shot shows the TF and you can see how I missed the entry because I placed my order at S2 and not at S1 (was more conservative as the TF moves more and is more highly leveraged).
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Hi MC another great post esp the screenshots. Many thanks for this one, it's right where I am spending time these days, directional and short-term training and trading.
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