Very good post,,,, ST , your quote is very impressive, states discipline. Everyone wants to be rich,,,, it won't happen over night,, ,,, To a large extent possible sharing knowledge from seniors,,,,
Please note that these Pivot pionts are turning points where a rally becomes a decline or a downtrend becomes an uptrend...
These are important price points where supply enters a bullish market causing price to soften OR demand picks up in a bearish market causing price to rise...
So knowledge of these pivots are very necessary for the people who wanna catch the trend & wanna trade according to trend.....
Trends was a core component of the way i traded. To quote a wise trader "If you cant make out a Trend with your naked eye, better stay put. Sit aside and dont trade until your eyes can differentiate between the noise."
PS: I admit, i dont understand meaning of the word "Pivot". I assume it means tactical price points.
Trends was a core component of the way i traded. To quote a wise trader "If you cant make out a Trend with your naked eye, better stay put. Sit aside and dont trade until your eyes can differentiate between the noise."
PS: I admit, i dont understand meaning of the word "Pivot". I assume it means tactical price points.
Pivot's=Peaks and Troughs of a Price Data(In the above Example of Vikas........
Peaks=CPH, and Troughs=CPL).
.....ur Approach of Trend is Descretionary(involves ur Pshycology/eyes to differentiate).....and vikas Approach is Little Objective.... both methods are Valid According to individual beliefs.
Regards,