Ever since Dr. Brett left the blogosphere I’ve realized that his daily price target tweets had found a way into my trading. I’m no expert at excel but I was able to build the price targets that he so kindly shared and have added a few tweaks to accommodate my trading style. If you haven’t attempted to create them, or a variation of them, I’d suggest you give it a try.
Since I started tweeting the price targets I’ve gotten decent feedback and I appreciate that. However, there is a common theme that seems to exist and that is why use the traditional pivot nomenclature to define price targets. Honestly, I never liked that either and I can see where the confusion comes in. I’m making some adjustments to what I tweet and thought this would be the best venue to share the changes.
I’ll stick with the traditional pivot and replace R with A and S with B. The A will be levels that are Above the pivot and the B will be levels that are Below the pivot.
Let’s be clear, I’m not making trades based off of these levels but rather treating them as they were designed–as targets. I don’t get in my car and drive aimlessly but rather with the purpose of getting somewhere. Nor do I enter a trade without knowing where I’d get out, wrong or right. I’d love to hear how you use Dr. Brett’s price targets so please leave a comment or email me.
Curious if you asked Brett for permission to publish this data every day?
No. He freely published the “how to” on his blog and suggested that readers learn how to use such data in their trading. If it were proprietary I would ask. Curious as to why you ask?
After your comment I went ahead and emailed the good Dr. Brett and told him what I was doing. He said it sounded great and wished me luck in trading.
After your comment I went ahead and emailed the good Dr. Brett and told him what I was doing. He said it sounded great and wished me luck in trading.