The Weekend Shift – Episode 15
The Price Action
Listen to Air Traffic Control
The broader averages and the Weekend winners
- JOHNSON AND JOHNSON (JNJ) 2-2 REVERSAL
- C.H. ROBINSON WORLDWIDE (CHRW) 2-2 REVERSAL
- UNION PACIFIC CORPORATION (UNP) 2-2 REVERSAL
- COSTCO (COST) 3-2 REVERSAL
- MICROSOFT (MSFT) 2-2 REVERSAL
- PEPSI (PEP) 2-2 REVERSAL
- MONDELEZ (MDLZ) 2-2 REVERSAL
Jammin' on Pivots
Stratin' with Pivots with Jam Trades
How to use pivots in TradingView to have another reference point in the Broadening formation series.
The pivots are set as P1, center pivot, R1 first resistance level, and S1 as the first support level. The sequence for the support and resistance levels range from S1/R1 to S5/R5. When the price is at P1 to R1, the price is bullish. WhenitisatP1toS1,thepriceis bearish. Jam uses these pivots as a reference in the broadening formation to confirm what reversal he will be executing. When a reversal lines up with a pivot on the weekly or monthly, he will take that reversal. For example, he will take a reversal on a 30 minute time frame at the P1 weekly pivot for a weekly trade. The weekly and daily pivots are commonly used for day trading. These are used to trade commons as well as options, are a good way to gauge sentiment of the market, and are good for the whole time frame. For example, during the week, you can see where the algos are programmed to buy when it hits the center pivot and sell when it hits the R1 resistance pivot on the weekly pivot. “When looking at Apple, do I really want to short it when I see this (selling), but when I put the pivots back on I can see where they programmed the algo to sell, and that gives me a reason to believe that Apple is taking a break. These pivots give me context, I know where I’m at in space, “ says Jam as he clicks the pivots on and off. We see that Apple comes off of the Monthly center pivot, and sells at the first R1 resistence pivot. This is used as confirmation with what we are seeing in the Strat. The key thing with the Strat is trading against people in losing positions. With the pivots, you have an eye on what other traders are seeing and doing.
EYE ON IT
Inside Bars on The Weekly
Who did this? This is great lol
Jermaine, thank you for write down the show. Excellent summary. Now, I understand more and more…….. Keep it up…..
Thanks for the excellent write up Jermaine – such good info here, gold actually, thanks also to JamTrade’s for the info on pivots! Awesome.