Here you can see how one may use 3 day rolling pivot for best entries along with yearly and monthly opening ranges. Thin 3 or 6 days rolling pivot ranges predict volatility. The ACD system of opening ranges, pivot ranges and 3 or 6 days rolling pivots was advanced by Mark Fisher in "The Logical Trader: Applying A Method To The Madness" (2002).
We saw rejection at yearly opening range (that pinbar) and now ptrice will be trending towards A down breakdown level.
By ACD rules for that level to be broken (what is the most likely scenario) price needs to spend half of the time of opening range at A up or A down level (in case of yearly OR - 2 weeks) before taking a breakdown trade.
Now we broke monthly A down level and monthly opening range acts as resistance.
For educational purposes only.
We saw rejection at yearly opening range (that pinbar) and now ptrice will be trending towards A down breakdown level.
By ACD rules for that level to be broken (what is the most likely scenario) price needs to spend half of the time of opening range at A up or A down level (in case of yearly OR - 2 weeks) before taking a breakdown trade.
Now we broke monthly A down level and monthly opening range acts as resistance.
For educational purposes only.
Trade active:
Our previous setup was devalidated as price broke the monthly pivot range. In such conditions only shorts can be considered. In May EURUSD trades usually down (last 7 out of 10 yrs).
Comment:
