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Old 01-31-2007, 03:14 AM
wsam29 wsam29 is offline
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Re: pivot point interpretation

We share a very similar view towards analysis, what through me off today was that choppy action back and forth PP of 12533.

I was considering shorting the market when YM touched R1 of 12571, ER2 made new high, NQ did not confirm, ES did the same as YM so in hind site, that was a very good trade since the other indicators all lined up, divergence on ticks and if you follow candle sticks, a hammer I think it is called? or all I care about is a long upper shadow or wick, which ever its called. the thing that prevented me from taking that trade was volume, there was not much on the break of that 5 minute hammer.

I would have surely taken that trade if there was a token print above 12571, for sure! having been screwed on many 1 tick higher going long trades, I know what it feel like when the whole market does not agree with you.

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