I want to know 2 things about pivot points:
1) I want to know does market respect 4 hour pivot points?
I have analysed daily pivot/Support/Resistance points and it seems market do respect those points...not sure if the same thing happens with 4 hour pivot points?
2) Lets suppose daily pivot point in eur/usd is 1.4400..Now the opening price is 1.4390..and that mean the bias for the day is short.
The problem in using pivot point trading is that price keeps crossing over pivot point randomly thus generating false signals? any tips on how to use pivot points successfully?
Happy Holidays to fellow traders.
1) I want to know does market respect 4 hour pivot points?
I have analysed daily pivot/Support/Resistance points and it seems market do respect those points...not sure if the same thing happens with 4 hour pivot points?
2) Lets suppose daily pivot point in eur/usd is 1.4400..Now the opening price is 1.4390..and that mean the bias for the day is short.
The problem in using pivot point trading is that price keeps crossing over pivot point randomly thus generating false signals? any tips on how to use pivot points successfully?
Happy Holidays to fellow traders.