Accumulation & Daily Pivots

Good day to all.
I have spent a lot of time on the EUR/USD thread, which has enlightened me to create this thread. This thread has been created for those of you who are interested in trading in the TF's lower then 15m. By doing so, and with the help of an active thread, we will discover how Accumulation and daily pivots work together to give us the ONE candle which starts off the breakout we see intraday. Are you ready?

Have a look at EU at this current moment... You can see that EU has touched one of it's daily pivots.


Once the daily pivot has been touched... We then wait for an official accumulation pattern on the 5m tf. The question would then be...... How is accumulation confirmed? Well, although subjective in nature, let us load the following indicator, prior to explaining that.



Once your MA lines are loaded, you would already have what would be the "LOW" of what will be the accumulation as the last move prior to the accumulation (based on the chart posted above) was down.


The chart above shows the low which is 1.08567

Now here is your high of the accumulation


The trick to knowing the high of the accumulation (if the breakout prior was down) is to have a green candle close at or above the red MA line. Once that happens, you do not mark the high UNTIL, you have an extension back to the same side of the previous breakout. In this case you need an engulf of the green candle which is marked with the red arrow. The moment that candle is engulfed, you can then mark both the high and low as follows.


Now once you have your high and low, you now are in a confirmed accumulation.

Any questions so far?

I guess everything clear till now...