RunForexRun1 , you got it. As MARK DOUGLAS said , "...the market has a memory..." When you zoom your charts out , you can clearly see it. DAVIT has said , many times , "...it's uncanny that PRICE will change right on the Pivot Price.." That happened to me quite a few times.
The basic principles of Pivot Trading is "Buy at support and Sell at resistance" combine that with good price action readings and we will have a high probable trades. @GE I have already have these rules buried deep inside my skull.
RunForexRun1 , I suspect that the most significant words in my reply might have not stood out to you. You clearly have the answer yourself. Davit is 100% correct. So are you a seller or a buyer at this CRUCIAL PIVOT POINT ZONE ?--Countless times , I have misread posts/replies.--GE
RunForexRun1 , MARK DOUGLAS IS AMAZING. If you have not gotten the video's until you have gotten that AHA MOMENT , then you have not watched them enough. I don't engage in harmonics myself. Pivot point trading works. As I said , I don't trade the EU , but , I did look at the DAILY and 4HR CHART. The EU is now into significant resistance to go higher , but , ANYTHING CAN HAPPEN IN FOREX. This week I felt that oil would quickly retreat to pre-spike level , didn't happen despite GREAT US NEWS.
RunForexRun1, good observations. Be mindful of how large the zone is on a weekly and monthly chart. Watch this series of video's; "MARK DOUGLAS-HOW TO THINK LIKE A PROFESSIONAL TRADER- pts 1 thru 4. Extremely powerful information , and once it clicks and you get that AHA moment , your trading improves 100 fold. Trading in any market is about human behaviour. You have to decide for yourself if you are truly willing to match your behaviour to the market to b successful. Trust me , a TON OF WORK!
For UC having a hard time going up further that is probably because it is way above the monthly S38 about 78 pips away and is already near the monthly pivot. I know Davit's is only trading the weekly pivot but putting the monthly and weekly pivots side by side and you will also clearly see where those stronger S&R levels are.
Yes, Pivot Points does indeed work alongside PA. That is why I've choosen to study and still learning Pivot trading because those levels are factual price levels and not a made up ones like I was thought in the past...where I manually find and draw support and resistance or trendlines that are really just imaginary lines/numbers.