When i started learning to trade pivots, there was one thing of Davit's that always stuck in my mind. It is the SR100 level.
From page 1:
As price travels progressively away from weekly pivot it becomes more likely to go into correction.
61 S/R key zone 78R/S is Scott Carney's last chance for reversal (spikes stops taken before reversal) 100R/S another major zone.
Should price smash 100 S/R then you are in strong trend supported by fundamentals.
If price moves against me and goes beyond the 100 S/R then that's a sign for me to consider gtfo.
From there on i'll just keep an eye on the PA for a decisive reversal.
From page 1:
As price travels progressively away from weekly pivot it becomes more likely to go into correction.
61 S/R key zone 78R/S is Scott Carney's last chance for reversal (spikes stops taken before reversal) 100R/S another major zone.
Should price smash 100 S/R then you are in strong trend supported by fundamentals.
If price moves against me and goes beyond the 100 S/R then that's a sign for me to consider gtfo.
From there on i'll just keep an eye on the PA for a decisive reversal.
Trade with confidence, trade without fear.
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