Look for crude oil to find support $73-74. Also the MS1pivot(green line S1) is there. MR1 was the high for the month.
UPDATE:
Crude broke the $73 support level. Next support is at the Ms2 pivot @$69.28
Moving Averages, Pivot Points and Gaps
About Me
- Jeff York
- Aka: Pivot Power, Pivot Guy, mtn.guy
- Trading is a visual game. Buy support and sell resistance. In my 17 years as a trader, I've learned where support and resistance using a combination of MPG. I take Pivot Point analysis to a another level. Join my new Pivotalpivots.com Alert service. Follow me on Twitter @mpgtrader. Or click on the MPG Trading link below, and join myself and other MPG Traders live(during market hours).
Recent Tweets
My Favorite Links
- Bloomberg News
- Bradley model
- ChartTreker charting 4 iPad
- Commodity charts
- FreeStockCharts.com
- Geomagnetic storms and the Stock market by the Atlanta Federal Reserve
- Merriman - Financial astrology
- MyPivots.com
- Pivot Farm
- Pivot Point calculator
- Pivot Point definition
- Pivot Points History
- the Cardinal Climax 2008 - 2016
My Trading Rules
1) Protect your capital
2) see rule #1
3) don't trade what you think, just trade what the charts say
4) use stops on all orders
5) never let a winner turn into a loser
6) never buy R2
7) never short S2
8) 3 losing trades in a row= strike 3.......shut down the computer for the day. Something is wrong in my head!
2) see rule #1
3) don't trade what you think, just trade what the charts say
4) use stops on all orders
5) never let a winner turn into a loser
6) never buy R2
7) never short S2
8) 3 losing trades in a row= strike 3.......shut down the computer for the day. Something is wrong in my head!
9) buy double bottoms & sell double tops
My favorite books on trading
- Secrets of a Pivot Boss - Franklin Ochoa
- The Disciplined Trader and Trading in the Zone - Mark Douglas
- Reading price charts bar by bar - Al Brooks
- High Profit candlestick patterns - Steve Bigelow
- Enhancing Trader Performance - Dr. Brett SteenBarger
- Candlestick and Pivot Point trading triggers - John Person
Blog Archive
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2010
(111)
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August
(12)
- Wheat Yearly Pivot stops the run
- Bond rally needs a rest
- The wild ride continues
- Intel yearly pivots working
- Full moon reversal?
- Crude oil close to bottom of the channel
- Gold HNS pattern
- eur/usd 200dma - 50dma
- 10200 needs to hold
- Golds 50dma next res
- We are setting up for a big move
- Gold looking for $1200
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August
(12)
Disclaimer:
Investing and Trading involves significant financial risk and is not suitable for everyone. This blog should not be considered as financial or trading advice. All information is intended for Entertaiment Purposes Only.