LTCUSD Pivot Point study: LItecoin shows it knows Pivots

This is a current example of TV's free ''Pivot Points Standard'' indicator.
All of those Pivot lines are drawn at the beginning of each period.
They do not 'repaint' like most other indicators, making for good targets.

Last week was a perfect Pivot trade, weekly R1 to S1, a common swing.
This week the Monthly (new for Jan.) Pivot was found to be support.
So it is possible that the Monthly R1 will be hit before the end of Jan.

NOTE
The term ''Pivot'' or ''Pivot Point'' is used in different manners by different people.
But originally, that term described a very specific method of calculating pivot price points.
TV has captured that original method, in the standard indicator ''Pivot Points Standard''.

Here is a 3-chapter guide to using TV's indicator

Guide to Pivot Points: one of TV's greatest free tools

Note

Yeah, there are people trading pivots. That is the only way to explain this

blue likes are Daily Pivot points. Back in the day, S&P Pit traders would have nothing but index cards with these exact price points written down. Then staring at the ticker, they would place their trades at each of those prices (or a little around them).

Note

Example of short term Pivot Trader thinking:

start with daily, look for weekly target. Same can be applied to longer term using Monthly pivots.

Note

LTC just hit the Weekly M3, and as expectable Bulls are taking profit

now the question is whether Bears will jump in to take this dip as a reason to push down more
.

Note

Pivot Point strategy looking good

Weekly R1 broken with force, should go higher
.

Note

Approaching next Take Profit Pivot

Note

Weekly R1 almost hit

might be about done for the week, new pivots coming in 24 hours.
.

Note

Got a decent bounce off the new Daily Central Pivot

Note

Wow! Chikum broke about the Monthly R1 pivot.

no idea what this pump is about, but longs are being rewarded nicely, and Pivot Points were just one of the indicators that hinted of this. Good job LTC!
.

EuroMotif

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag

Related publications

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.

EuroMotif

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag