When I see People use the Pivot point tool completely wrong i know they have lack of Knowledge so lets share what exactly you should be looking in order to make your trading successful
01) when price are making lower low or higher high , they usually follow the daily pivot point for pause and continuation of trend .
02) when you see during down trend ( A continues down ward move for couple of days ) that the next daily pivot low is not tagged and price reversed before it with strong candle , it indicates 1st sign of trend slowing down.
03) when you see during up trend ( A continues higher high and higher low ) that the next daily pivot high is not tagged , it indicates 1st sign of weakness in the up trend
04) then it starts moving in the same direction but candles price action will start going for pause range to expand , this move takes for few more season until you see a strong reversal and move in the opposite direction of the preceding trend
05) There are rules to take trade and there are rules to identify the same in order to take successful trade entries
I have made few of the information visible in the chart in the form of call out , and trend line with angle of deviation
So One can look for these and take a proper steps to avoid losing trade
Good luck keep learning & keep earning
01) when price are making lower low or higher high , they usually follow the daily pivot point for pause and continuation of trend .
02) when you see during down trend ( A continues down ward move for couple of days ) that the next daily pivot low is not tagged and price reversed before it with strong candle , it indicates 1st sign of trend slowing down.
03) when you see during up trend ( A continues higher high and higher low ) that the next daily pivot high is not tagged , it indicates 1st sign of weakness in the up trend
04) then it starts moving in the same direction but candles price action will start going for pause range to expand , this move takes for few more season until you see a strong reversal and move in the opposite direction of the preceding trend
05) There are rules to take trade and there are rules to identify the same in order to take successful trade entries
I have made few of the information visible in the chart in the form of call out , and trend line with angle of deviation
So One can look for these and take a proper steps to avoid losing trade
Good luck keep learning & keep earning