New Week = New Pivots.
Last week the pivots played an important role, even during chaotic downturn.
Last week started just below the new weekly pivot, rejected, and continued down.
This week the price is starting a little below the new Weekly Central again.
Bulls will expect price to at least come touch the Central Pivot sometime this week.
Bears will expect the same, and will probably short with confidence at Weekly Central.
Bull will expect hope for a decent retrace of last week's drop, so will be looking for Weekly R1 at least.
Bears will expect to continue the downtrend, and will probably sell every pivot touch from underneath.
Last week the pivots played an important role, even during chaotic downturn.
Last week started just below the new weekly pivot, rejected, and continued down.
This week the price is starting a little below the new Weekly Central again.
Bulls will expect price to at least come touch the Central Pivot sometime this week.
Bears will expect the same, and will probably short with confidence at Weekly Central.
Bull will expect hope for a decent retrace of last week's drop, so will be looking for Weekly R1 at least.
Bears will expect to continue the downtrend, and will probably sell every pivot touch from underneath.
Note
New Daily Pivot added.Hopes and Dreams adjusted accordingly.
Note
New Daily PivotAlready showing relevance in low volume time
Note
Its been a Pivot War for last 2 weeks, regulated by Fibs. Bears want to at least touch the Daily Central before the new Daily pivots arrive Note
Another weak of perfect Pivot ActionBulls kept it price above Weekly M2, and brought back to Monthly Central.
New Weeklies coming up in a few hours. I think Pivot traders are done for now.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.