Price under our calculated pivot point, price has returned to the EMA89 average, and we can look to short GU down to 1.2197.
Trade active
1.2245Trade closed: stop reached
Well that was funTrade active
1.2254 entry, 1.2280 stopNote
Little lesson to be learnt there, first trade I should have used a wider stop above the pivot point... that is the right way to trade around a pivot, if price breaks the pivot youd be out which makes sense, as price raising above the pivot can indicate a change in the trend.Trade closed: stop reached
Price has broken pivot pointTrade active
1.2300 entry 1.2315 stopTrade closed manually
B/E Leaving the shorts alone now, no luck this timeTrade active
Now the price action is good, 1.2310 stopsNote
1.2290Note
1.2230 targetsNote
Price has rebroken the pivot to the downsideTrade closed: target reached
Note
Got there in the endDisclaimer
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Disclaimer
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.