EU is really stuck in a tight range which is why it is vital to take profits when you can and not get married to a position.
Pivots are also very subjective. These levels always looks great in a tight range but lay waste to accounts when the market trends.
I've posted a number of times why they are irrelevant to the market. They are purely a calculation based on the last week's range. It doesn't take a genius to work out the problem that can cause.
You'll notice on a quiet bank holiday week those pivots are packed tightly together. What you think happens when the market decides to breakout the following week?
The only thing you need on a chart is an understanding of supply, demand, news event risk and price action. Everything else is just information.
Pivots are also very subjective. These levels always looks great in a tight range but lay waste to accounts when the market trends.
I've posted a number of times why they are irrelevant to the market. They are purely a calculation based on the last week's range. It doesn't take a genius to work out the problem that can cause.
You'll notice on a quiet bank holiday week those pivots are packed tightly together. What you think happens when the market decides to breakout the following week?
The only thing you need on a chart is an understanding of supply, demand, news event risk and price action. Everything else is just information.
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