As you see if price breaks monthly A or C pivots (of Fisher's ACD system based on opening range) it usually turn at classic monthly R1, S1, sometimes reaching R2, S2...and very rarely S3, R3 (in case of extreme volatility as with covid or some major crisis). Why so? Bcs most American institutional traders use floor pivots for targets.
BUT keep in mind we are in the end of the month and June 2nd we will have new monthly opening range and new A and C pivots.
Today bullish move stopped at monthly R1. I suspect price will return to A pivot.
This system is great trading map.
BUT keep in mind we are in the end of the month and June 2nd we will have new monthly opening range and new A and C pivots.
Today bullish move stopped at monthly R1. I suspect price will return to A pivot.
This system is great trading map.