Attached is an example of a daytrade application of
the Pivot Trading methodology.
The right hand screen shows a daily chart of AMGN
with a series of trend change warnings and a buy signal for today. Price is near
the lower black channel line which indicates extremely oversold.
The left hand screen shows 20 minute data today
with a trend change warning on the 7:10 bar. The order is to buy at 54.23 stop,
4 tics above the high of the signal bar.
With the trade now in a profit position, the trader
can set sell stops to preserve profits. (I exited at 54.59 on a stop for a 0.36
profit).
Another trade would be to buy the Dec. 62.50 call
for 0.70.
Jim White
Pivot Research & Trading
Co.
PivotTrader.com
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