Is anybody watching my levels??? Keep an eye out and get in the chatbox too.
Posted by MC on Sep 11, 2008
Here’s how the levels played out today. I gave added levels (red & green lines) in the chatbox as well. The levels given worked all day long, including pegging both the bottom and the big down move prior to the EOD explosion. Again the white dots were rock solid signals and the red dots worked depending on your trading plan. The red oval was a great level if you’re a pure scalper, you got to dip in over and over. As you can see these work in chop or trending days making them very noteworthy! 
Levels for tomorrow coming later… 
How did my daily key levels do from last night?
Posted by MC on Sep 9, 2008
How did my levels do from last night? 
The white dots are where the levels worked on the button. The 2 red dots are not on the dot but provided a divergence trade if that’s in your repertoire.
One could argue that the 5 minute cleans things up a bit and lets the candles form. Trade whatever timeframe fits your trading style but I would suggest marking these levels on your charts. 
I’ve not cut these posts off from the general population yet but as soon as I’m healed enough to be consistent on posting I’ll shut this down except for those that are posting valuable content or that have paid the $5 monthly donation. These aren’t magic but they have proven themselves to me time and time again. If you have the right discipline and have created a setup off these levels you have plenty accuracy to be net profitable. 
Daily Key Levels For Sept. 10th 2008
-YM-
High = 11,484
POC= 11,418
Low = 11,301
-ES-
High = 1258.25
POC = 1249.25
Low = 1230.00
My view of the YM’s bigger picture
Posted by MC on Apr 23, 2008
Here’s my view, we closed above that down channel pretty convincingly. As expected it’s stalling at overhead resistance on low volume, it’s time to base or pullback to test support most likely.
Now ideally we should get a test of the new support on the top down trend line.
Even better would be if it kind of hangs here for a few days and lets that channel line meet with the structure support below. There would be the king of entries if you want odds in your favor, double support for a long. 
Note the red arrow, that’s your signal if your less aggressive and maybe the smartest entry of all. The channels/trendlines break and fake out often but a legit breakout of range followed by a test of that same level is a prime entry. Let’s see if we can get that smarter entry on a long here. You could play it short in anticipation of that test though it could rally with no warning and now I would look for long setups.
VIX > TRIN
Posted by MC on Apr 18, 2008
Yesterday (17th) I pegged a prime entry on the YM’s opening pullback to 12,570 for a long in the fourms chat. Today I nailed the opening trade again…long on a pullback to 12,780-12,790 was the call at 9:34am.
Then using the chart below I picked the prime short entry which worked quite well. The main reason for this post isn’t to brag, but more about why I prefer VIX 1000% over TRIN myself, it shows way more detail in my usage.
Compared to TRIN in the same point.
So yes TRIN moved up but it still was range bound, where the VIX showed a formation which had broken out and gave a great signal.
Good trading and I’ll see you in the chat next week.
MC
How to use pivot points
Posted by Cire2222 on Apr 16, 2008
Many of you have heard of pivot points and may use pivot points in your trading. I wanted to go over a possible way for you to use them in day trading. Below you will see a Dow Mini futures 5 min chart with that days pivot points plotted on the chart. There are a couple of various formulas to compute the pivot point numbers but the standard formula is as follows:
Resistance 3 = High + 2*(Pivot - Low)
Resistance 2 = Pivot + (R1 - S1)
Resistance 1 = 2 * Pivot - Low
Pivot Point = ( High + Close + Low )/3
Support 1 = 2 * Pivot - High
Support 2 = Pivot - (R1 - S1)
Support 3 = Low - 2*(High - Pivot)
Once you have calculated your pivot points your ready to use them. You may have heard other ways to apply pivot points to your trading but I would like to show you how pivot points have helped me on any given trading day. This is a list of trade set-ups I will take using pivot points:
- On an open at or near a pivot point I will stay on the side lines for a clear break in direction
-On an open in between two pivot points I will Fade the first test of a pivot point
-On the first solid break of a pivot point I will Buy/Sell the first pullback to that same pivot point
-On the third test of a pivot point I will go with the move in anticipation of a break
-typical stops are set a few points from the pivot point
-typical exits are half the distance to the next pivot point and the complete distance to the next pivot point
Below is a 5 min Dow futures chart with trade set ups noted. As you can see, on a day that has alot of movement this simple set-up can be very profitable. For any questions visit the tradersbase.com forum
