What i learnt about candle pivots and price action today

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What i learnt about candle pivots and price action today

Postby bettlebox » Thu Mar 18, 2010 5:46 pm


http://picasaweb.google.co.uk/lh/photo/ ... directlink

from my observations of price action and candle pivots (H+L+C)/3 that as price moves up the current candles pivot stays about pervious candles pivot point. And if prices is going to continue up it usually doesnt break the pervious candles pivot point.

so if I know that support/resistance has formed i can enter at break of the pervious candles pivot point in direction of hourly bias. Maybe i can also use these pivot points as safe and quickest exit as price goes against me, if breaks them more than likey to continue going against me.

any questions fire away.

I using TRO_PIVOT_DOTS indicator
found here in this zip file
MT4_MOTHERLODE_200810.zip : - http://kreslik.com/forums/viewtopic.php?t=1425

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