Hello Mypivots,
As of this writting the High on the ES was 1254. If we take the low this A.M. @ 1243.75 and get the Square root which is 35.26684 and add (since it was a low, If it were a high then I would subtract .146) then I square the number by itself i.e. 35.26684 + .146 = 35.41284 now we square 35.41284 x 35.41284 =1254.06 or 1254 which was this A.M.s first high. I didn't trade since I didn't have another signal. I missed a great short, but I would rather follow my rules then trade on a whim. Also .25 works good and .382.
Todays high 1254, find Square root and subtract .25 and square it is 1236.3 or 1236.5, this may be a good trade since 1256 is another one of my numbers.
Happy trading
Joe
CH
CharterJoe
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Posts: 2,352
You got the idea, thats how I use it. You can use it to match your style. I am counter trend So I use those numbers for resistance not support. But If you wanted to you could enter in long because there was SOOOOO many things @ 1225ish level that A stop could have been placed at each of those .146, .25, .382, .5 ect levels until your stopped out. I try not to stay in the market for long periods of time lots can go wrong for me anyways. Although I do have set-ups that yeild many points there rare. maybe 2 a month, then theres trades where I can get 4-5 points, but the average trade is 2 points and they happen almost every day.
But like anything else I never trade only one thing alone I line things up. Sure I miss a lot of good trades but I would rather follow my rules i.e. 2 things must line up and I cut back on my profit and % went up.
But like anything else I never trade only one thing alone I line things up. Sure I miss a lot of good trades but I would rather follow my rules i.e. 2 things must line up and I cut back on my profit and % went up.
CH
CharterJoe
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1231.25 is Square root -.146 but no other number around that level. also 1232 is monthly pivot
longed @ 1231.75
longed @ 1231.75
RE
redsixspeed
Rep: 4,111
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Thanks Joe; If we didn't have such neg. breadth & neg. advance decline line today, these levels may have produced much more to the up side.
CH
CharterJoe
Rep: 4,475
Posts: 2,352
Yep, you can compensate for that with added contracts. Its a lot easier to get 2 points with 10 contracts than it is to get 8 points with 2 contracts. And 2 point trades come around a lot more often than the 8 pointers I'd say 10x more often depending on which system you use.
CH
CharterJoe
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ES almost hit 1252.25 SQ root + .382 of 1225.5 The 1 min RSI was way overbought indicating it wasn't going to make it. Had the daily pivot @ 1250.25 and 1251 is a Square of ninwe number. And 25k volume bars on the 1 min chart + 2 points, 20.25 points today.
Market rocketed thru Square root .25 No trade was taken anyways no other number. i.e. 1243 /1246.25 was a weekly piviot but was to far away to count.
Market rocketed thru Square root .25 No trade was taken anyways no other number. i.e. 1243 /1246.25 was a weekly piviot but was to far away to count.
RE
redsixspeed
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My target was 1252.50. Thanks Joe if your ever in Charlotte NC dinner is on me
CH
CharterJoe
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Posts: 2,352
Thank You Red,
I go fishing in Bervard all the time, I'll have to take you up on that. Did you make any points on a trade?
I go fishing in Bervard all the time, I'll have to take you up on that. Did you make any points on a trade?