Monday, February 23, 2009

There's Something About Pivot Point

The core tenet of pivot trading is if the price opens above the pivot then the bias is for long trades only. If the price opens below the pivot then the bias is for short trades. We look to buy at support levels and sell at resistance levels bla bla bla. I find pivot to be very powerful as a stand-alone instrument in trading without relying on any other technical indicators. I love using it for its pure "objectivity and accuracy". More on this later, but as for now, pivot rocks..!!

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