Hi there Paulas was reading back through the thread and like this post but did have a question.
"rather if it is coming up to a pivot it breaks it as our signal is given in which case as long as we have had a series of HH and HL we can go long..."
If a long trade I would normally wait for a breach and BUY on pullback as you have explained below. In the above quote are you saying a bullish confirmed uptrend with progressive HHs/HLs leading up and going through the pivot would have you going long once you see HHs/HLs imm above the pivot on the first HL or am I wrong. Im thinking about false breakouts and while the move you are describing does not appear to encountering much R at the pivot I wanted to improve my understanding on this.
Thanks
ST
"rather if it is coming up to a pivot it breaks it as our signal is given in which case as long as we have had a series of HH and HL we can go long..."
If a long trade I would normally wait for a breach and BUY on pullback as you have explained below. In the above quote are you saying a bullish confirmed uptrend with progressive HHs/HLs leading up and going through the pivot would have you going long once you see HHs/HLs imm above the pivot on the first HL or am I wrong. Im thinking about false breakouts and while the move you are describing does not appear to encountering much R at the pivot I wanted to improve my understanding on this.
Thanks
ST
DislikedHi Tritan
The pivots are used mainly for showing resistance and support areas,in other words if we are coming up to a pivot line we should not want to go long 'hoping' that it will break the pivot and continue.
rather if it is coming up to a pivot it breaks it as our signal is given in which case as long as we have had a series of HH and HL we can go long...
or...
If it breaks it and then comes down to it and then goes up again
The trade you have picked may have HH HL and the HA ind is showing the right colour........BUT........where is the...Ignored
" Dont wait for your boat to come in ..... swim out and meet it"