Trades/Orders (End of 7/27/10 session)

One trade:

Sold YMU10 @10,494, stopped out @ 10,512; P&L: -18 points.

New orders:

Buy YMU10 @10,446 with 10,434 stop and 10,473 take-profit.

(Daily S1 pivot point is 10,443, which is also the regular session low)

Sell YMU10 @10,538 with 10,556 stop and 10,506 take-profit.

(Daily R1 pivot point is 10,539; weekly R1 is 10,537 )

[ For some background and a disclaimer, please read this post and especially this post. ]