I wanted to add a word of caution to my prior post. We are at a critical point with the price, as everyone no doubt realizes, which is why few agree on price direction. You'll notice the daily and weekly pivots are really close together.
If price started to close below them, and move down from them, obviously, that would shoot holes through my bullish view, since that would mean the daily pivot would move below the weekly pivot the next time they are calculated, signaling a potential trend change, or more consolidation and ranging/indecision.
If that happens, I probably will look for another pair to trade until this one makes sense again. Safer trading when the pivots line up and agree with you, since that means that a whole lot of traders agree with you too
If price started to close below them, and move down from them, obviously, that would shoot holes through my bullish view, since that would mean the daily pivot would move below the weekly pivot the next time they are calculated, signaling a potential trend change, or more consolidation and ranging/indecision.
If that happens, I probably will look for another pair to trade until this one makes sense again. Safer trading when the pivots line up and agree with you, since that means that a whole lot of traders agree with you too