1_Why using pivot points :
After using them for some time as a crutch, I was losing interest as a
day trader. Then I experimented with using this concept for a longer time
period, a week. Wow, what a discovery!
Then I came to the conclusion that I would try to use them on a monthly
basis because, after all, I was a follower of daily, weekly, and monthly charts.
2_ So like we see on the chart there is a strong weakness near the monthly pivot line (yellow) confirmed by an engofling bearish candle and a doji with long shadow .. I would like to enter with selling and with a SL above the previous high (doji) and an open TP ..
3_ We can't forget the fundamental analysis So we expect negative news for the EUR and positive ones for USD ..
4_Please don't forget the money management , for me :: RISK = 2% and TP >=4% ..
GOOD LUCK !!
After using them for some time as a crutch, I was losing interest as a
day trader. Then I experimented with using this concept for a longer time
period, a week. Wow, what a discovery!
Then I came to the conclusion that I would try to use them on a monthly
basis because, after all, I was a follower of daily, weekly, and monthly charts.
2_ So like we see on the chart there is a strong weakness near the monthly pivot line (yellow) confirmed by an engofling bearish candle and a doji with long shadow .. I would like to enter with selling and with a SL above the previous high (doji) and an open TP ..
3_ We can't forget the fundamental analysis So we expect negative news for the EUR and positive ones for USD ..
4_Please don't forget the money management , for me :: RISK = 2% and TP >=4% ..
GOOD LUCK !!
Comment:
!! education comment !! Remember , Remember , Remember : Everything you you draw on your chart gives you a signe so Just pick the ones given by your strategie ..
Comment:
!! Like expected , too simple i would like to wait till the trend reach the first monthly pivot support .. any pulback or good news on eur will puch me to close the trade .. enjoy profits with the simplest way .. real trading ..
Good luck again
Good luck again
Trade closed: target reached:
enjoy