Here's a quick USDCAD short I took earlier for 50 pips profit
For this trade, I took a position short based of the following:
- Overall momentum was bearish
- Daily direction prediction (DDP) was bearish
- Daily pivot point coincided with the 20 EMA on the hourly chart and previous support zone
- Price previously made a lower low
- No resistance areas in the way of 50 pip take profit
- Daily, 4HR and 1HR charts confirmed same analysis
I don't always trade from pivot points, but occasionally it acts as a good confirmation of a trade if it aligns well with other factors of confluence.
Happy trading everyone!
AvidTrader
- Overall momentum was bearish
- Daily direction prediction (DDP) was bearish
- Daily pivot point coincided with the 20 EMA on the hourly chart and previous support zone
- Price previously made a lower low
- No resistance areas in the way of 50 pip take profit
- Daily, 4HR and 1HR charts confirmed same analysis
I don't always trade from pivot points, but occasionally it acts as a good confirmation of a trade if it aligns well with other factors of confluence.
Happy trading everyone!
AvidTrader
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.