Guys pay attention to the pivot points on the above chart. I have derived my calculation from another charting software, an Mt4 to be precise.
Take note of the following:
1. Red line - Weekly Pivot Point ( WPP )
2. Purple line - Weekly Pivot Resistance 1 (WPS1)
3. Black line - Weekly Pivot Support 1 (WPS1)
Please, start to put these levels into use from Monday 27 April, 2020.
It should be noted that the market usually trades pivot points during the period with a probability of around 70-80%. It means that the probability of touching the weekly pivot point by the market during the week is 70-80%.
So, if the price of BTC stands above its Weekly Pivot Point by the time market opens on Monday do not rush to open position.
Allow the price to tend toward the Pivot Point , you will probably get a much better entry point, around this price level.
The long entry opened at WPP (7347.5) , will target WPR1 at 7937.8.
Thanks for reading, and my the pips be with you all.
Take note of the following:
1. Red line - Weekly Pivot Point ( WPP )
2. Purple line - Weekly Pivot Resistance 1 (WPS1)
3. Black line - Weekly Pivot Support 1 (WPS1)
Please, start to put these levels into use from Monday 27 April, 2020.
It should be noted that the market usually trades pivot points during the period with a probability of around 70-80%. It means that the probability of touching the weekly pivot point by the market during the week is 70-80%.
So, if the price of BTC stands above its Weekly Pivot Point by the time market opens on Monday do not rush to open position.
Allow the price to tend toward the Pivot Point , you will probably get a much better entry point, around this price level.
The long entry opened at WPP (7347.5) , will target WPR1 at 7937.8.
Thanks for reading, and my the pips be with you all.
Trade active:
More patience is needed for price to tend towards our entry level - WPP.
Trade active:
This the most important rule of Pivot Point techniques in trading:
- NEVER STAND AGAINST THE PIVOT! –
If market is above the pivot – do not enter short, if it below it – do not enter long. This rule is applicable to corresponding time frame.
If, for an example, market moves far above Weekly Pivot point and reaches Weekly Pivot resistance 1 or 2 – you could count on and wait for retracement lower to enter Long in terms of daily time frame (i.e. you should not enter short).
Recall that, BTC did experience the above market condition last week. For this reason, I will be using Daily Pivotal levels to open buy order(s).
Pivot Levels for Wednesday 29 April
DPP - 7708.5
DPR1 - 7770.2
DPR2 - 7830.3
DPS1 - 7648.4
DPS2 - 7586.7
- NEVER STAND AGAINST THE PIVOT! –
If market is above the pivot – do not enter short, if it below it – do not enter long. This rule is applicable to corresponding time frame.
If, for an example, market moves far above Weekly Pivot point and reaches Weekly Pivot resistance 1 or 2 – you could count on and wait for retracement lower to enter Long in terms of daily time frame (i.e. you should not enter short).
Recall that, BTC did experience the above market condition last week. For this reason, I will be using Daily Pivotal levels to open buy order(s).
Pivot Levels for Wednesday 29 April
DPP - 7708.5
DPR1 - 7770.2
DPR2 - 7830.3
DPS1 - 7648.4
DPS2 - 7586.7
