Just a quick example of how important the pivot low and highs are. They suck you in with big scary candles then rip it the other way.
The only way avoid getting spanked is to trade between the highs and lows or wait for a clean break of the pivots. Take note that in this
example price has still not broken the upper trend line so its possible that is gets rejected. Watch how it plays out to learn.
The only way avoid getting spanked is to trade between the highs and lows or wait for a clean break of the pivots. Take note that in this
example price has still not broken the upper trend line so its possible that is gets rejected. Watch how it plays out to learn.
Comment:
Of note. In the upper post I stated that price did not break the upper trendline. That is incorrect. When I was writing it price was at the line then broke by the time I posted it. So it did not get rejected and broke clean through for a nice upward move.