DislikedIf the pivot low was not a previous reaction to demand, u wld have consider that a real demand? Am abit confused when i sometime see pple say swing low/high are not considered demand/supply in itself...Ignored
For example, here on Gold, the supply level is defined with a clear base. In contrast the demand is only defined by the pivot low. That sharp bullish reaction after the very bearish momentum shows there is a load of buyers lined up there protecting that level. Buyers exceed sellers - demand.
Pivot lows/high simply show the imbalance of buyers and sellers. When price revisits these levels of imbalance only the trader can determine for themselves if it is a valid buy/sell.