July 19, '04. Turns at the scene of the crime...


A Pivot Ledge is left on the charts whenever price action breaks sharply away from a consolidation pattern. This price point often has a magnetic affect on future price action, even if well into the future. After a Triangle Pair Signal near the Noon Hour Low in the mini-Dow today, price reached just such a Pivot Ledge in this morning's sell-off in the mini-S&P, (ES). Valhalla Futures is still in this position as the time of this posting, but a return to the Opening Range as target would produce a 6 pt profit in the ES and 70 pts in the YM (mini-Dow). Study the rules of this market phenom and dozens of others in the manual Pivots, Patterns and Self Recognition.