Pivot Point and Divergence Follow-up
by Trader Rich
I have a follow-up to the video I posted yesterday. I actually tried to watch my own video this morning and realized just how boring it really is. Wow….
Anyway, the trade that I talk about in the video would have hit its' profit target. In fact, the price just hit R1 exactly and reversed. By the way, these pivot points were obtained from my new site at http://www.allpivotpoints.com. Here is the chart from 9:00 am today. Click the thumbnail for the large view of the chart.
I did not take this trade because I'm still working through this possible system. One thing that I'm not sure about is how long to stay in the trade. I would have entered 1 pip about the pivot point but the price fluctuated above and below the pivot point until this morning when it finally broke upward. At the point it broke upward, was the bearish hidden divergence still valid? I'm not sure.