geewhiz112 8:13 am on Thursday, January 5, 2017
Tags: SPXcampaign ( 2,265 )

Following The Leader

#spxcampaign
$SPX Jan 27th 2155/2180 BUPS for 1.30.

Jeff 9:10 am on Thursday, January 5, 2017

The “leader” looks to have acted too early! Getting the timing right has not been my strongest suit lately.
- fibwizard 11:03 am on Thursday, January 5, 2017
  
  watch the ES 5 minute chart..when teh low hits a Pivot point..then sell your puts..when the high hits the upper PP, then exit your puts..thats how I time my trades…look at this mornings move..teh early high was just above teh center PP, the Low was just below the S1 PP..
  - fuzzballl 11:38 am on Thursday, January 5, 2017
    
    Are pivot points something that gets established on a daily basis or can you tell where they might be tomorrow or the day after? Guess it varies by time frame? Have you got a quick and dirty way to figure them? I’d love to be able to trade looking out over the hood instead of the rear view mirror…LOL
    - fibwizard 11:53 am on Thursday, January 5, 2017
      
      The PP’s need 24 hours to establish the next sessions PP’s…I use TOS with a 1 day/5 min setting and configure regular PP’s provided as a study by TOS..I set the study to daily or day..Color the lines however you like..
      
      I use this with ES , as I know on a slow day the ES will move 1 PP.. a lil above, a lil below..but mostly 1 PP of movement …on a stronger day, it will move 2 pp’s..typically it pauses, for a few bars and bounces at those levels..
      
      This morning it moved from open, just above the Center pp, and ran down to the S1 pivot..bounced there, and moved back up to the Center PP, and is moving slightly down now…
      - fuzzballl 11:57 am on Thursday, January 5, 2017
        
        Thanks. I’ll look at that study tonight. Very interesting…
        
        fibwizard 12:03 pm on Thursday, January 5, 2017
        
        you know me, I always try and know where my bounce points and targets are going to be…trading with future points is teh only way I can trade..Guessing doesnt work…
        
        fuzzballl 12:05 pm on Thursday, January 5, 2017
        
        Got that right! Thanks for taking the time to throw that out there. I’ve always heard ’em talked about but never jumped in to look.
      - optionshane 12:09 pm on Thursday, January 5, 2017
        
        Fib, in your experience, how accurate are the pivot points? Thanks.
        
        fibwizard 12:23 pm on Thursday, January 5, 2017
        
        Shane,
        The PP’s and Fibs are Accurate, because the Floor traders trade by the PP’s..and most of the Street Traders all trade pullbacks and reversals to the 38/61 fib levels..are they 100%, no..but they work for me 90% or more of the time..Addy sold his spread this morning at teh ES low at S1 pp, and it moved up 7 points to his advantage thru the day…I use what the big guys use..and time my trades accordingly…
        
        optionshane 12:30 pm on Thursday, January 5, 2017
        
        Thank you Fib. I figured the PP’s and Fibs were not 100% accurate, but a 90% accuracy rate is very impressive. I’ll check out the PP’s when I get home tonight. BTW, I ordered the 4 books you recommended. Started reading Disciplined Trader yesterday. Only a couple of chapters in, very good read so far.
        
        Addy 12:33 pm on Thursday, January 5, 2017
        
        it is working nicely
        
        fibwizard 12:40 pm on Thursday, January 5, 2017
        
        Last fridays Downsell ended at 2239…the 38% retracement was at 2243..Tuesdays low hit that fib line and bounced up from there…thats when I sold a few put spreads, and then yesterday, when it gapped above tuesdays close, I sold the rest…when you know where the bounces and pullbacks are going to be, its a lot easier

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