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Here is a good example of how you can use the Pivot Point Calculator, this is a trade we did 5/19/06.
GM STOCK
Advantage for day trade: great liquidity, easy to trade size
Pivot and Support points from the StockPivotPoint Calculator*
*these are just 2 of the 9 trading points provided by the StockPivotPoint.com Calculator
| stock |
Pivot |
Support 1 |
| GM 1 day |
24.35 |
23.73 |
| GM 1 Week |
24.84 |
23.02 |
Look at the GM chart above and the chart above it with Pivot Points.
As you can see the stock opened up early in the day approached the 1 day
pivot point went over it
but really could not confirm it and stay there. It tried twice.
Since the 1 week pivot point was significantly higher, the stock was suspect
for it to go up regardless.
Setting a stop at the 1st support stop (23.73) we forgot about the stock.
When our alert went off, we reviewed the stock and purchased it.
Next we set a price of 24.35 and set an alert for that price.
When the alert went of we decided to sell, and sold at 24.30 on a dip.
We sold because the stock earlier could not make a meaningful move above
the 24.35.
Notice we were wrong and the stock actually made a much higher high...
had we held and saw the move
around 13:18 (time) to above the 24.45 level, we may have held on longer.
We're happy with our trade. The one that the StockPivotPoint Calculator
told us of, while we did other business.
Good trading you !
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