Short term sell - basically price is looking for support at S3 and bouncing to or near the next day daily pivot - as low and close is undetermined and price volatile the projected fib could be off substantially. Price is below the 8 hr trend and broke low out of a compression pivot set. Target missed JP pivot far left. Compression pivots are new just like the pivot trend lines and unproven. Compression pivot explained in chart. JP pivots also explained in chart
Comments
kate25
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DXY - visibly below the weekly pivot and trend - if it can not cross and close above - this may give euro strength to move price up
kate25
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This is a larger view - still below the daily trend - looking to break below the daily pivot - the first apex has caused problems closing below - if price succeeds closing below then the second apex should be challenged -
kate25
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price is below the daily trend but above the daily pivot - looking for close below the daily pivot which should bring a fall to S1 - alternatively euro may challenge the daily trend - my bias is S1
kate25
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Price above the 8hr pivot/trend and slide above so now on top of the daily pivot - price below daily trend - would expect challenges on S1 to S3 plus the daily trend
kate25
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For those who are interested in the tools I use off of the pivot points I will be covering trends slides compressions and apexs in my TV forum later today - you can find it under trading with pivot points and trends. I will answer any questions and demonstrate how to use them. I also will cover the basic pivot points themselves and how to use these appropriately.
Eugene_Titov
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Can you give the link to your TV forum? Would it be recorded?
kate25
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No link - I am right here in the chat rooms - look under T - you will find my room/forum there Trading with pivot points and trends -
forex236
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Please give me your link too, please. Thank you
kate25
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No link - I am right here in the chat rooms - look under T - you will find my room/forum there Trading with pivot points and trends -
kate25
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So lets see where price stands - my chart gets more beat up as the trade goes on - price was held below the top compression - what I would like to see is price fall below the minor apex and back to 8 hr pivot - this would put price below the 8 hr trend and heading to bottom of compression