Pivot Points.mq4
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Dislikedwe are getting excited about this BIG fall--but the short direction is NOT set yet technically
just consider yesterday drop from 239.80 to 237.80--one would have thought--ok this is it--down another 1000-2000-3000 pips--but NOOOOOIgnored
Dislikedi still want to point out that the TREND is UP
so dont hold trades for 200-400pips
bank 50/70 at a go and then reneter etc
+ its last trading day of week and many tend to give all the profits back on this day--
we are getting excited about this BIG fall--but the short direction is NOT set yet technically
just consider yesterday drop from 239.80 to 237.80--one would have thought--ok this is it--down another 1000-2000-3000 pips--but NOOOOO
this thing can drop and retrce back 50%, 61.8% EASILY when the trend is still against a short postion
u will see as the TREND confirms down on larger TF's then-- there will be larger drops and less massive retrcemenst
just something to keep a note asideIgnored