Turn in Direction - Morning 09/12/08

Just before 1000 ET on the 620 tick chart, the market made a higher high followed by a higher low, which is not confirmed until the previous high is taken out. Then we have a focus area for a long position on a correction.

This gives us two options on the 1 minute ES chart. Option 1 is a more aggressive trade entering on the first with a higher close. Option 2 is less aggressive. The blue line on the $TICK chart is a 2 period SMA of the $TICK pivot ((H+L+C)/3). When this SMA crosses the 38 period EMA (White Line) of the $TICK pivot, enter a long position.

Charles

" I never blame myself when I'm not hitting. I just blame the bat and if it keeps up, I change bats. After all, if I know it isn't my fault that I'm not hitting, how can I get mad at myself? "
Yogi Berra