Next support/demand zone is 12700-12750. On april 4th I wrote I was looking for a 500-1000 point drop. We are now down 500 points from the top. Now we need to consolidate and let the moving averages turn down and catch up.
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
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.