Pivot trend lines are dynamic and change with the new pivot point. Price is currently above the daily pivot along with the 8hr pivot. We have three price blockers below weekly pivot and two pivot highs. Three supply zones above. Potential pattern in play. Price is presently in the pivot channel - do not want to the bottom trend lost to price. Looking for price to complete the right shoulder and carry onto 116.30. If we lose bottom of pivot channel then long play is void. Negatively to enter long would be the fact price is in the channel and price is below the 8hr pivot. Positively the 8hr pivots and daily pivots are making new highs - average price is increasing, there is a potential pattern in play
评论
kate25
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Its a shame price fell that far down - blockers have held so far - but what is really good the pivot channel held at bottom - price followed the trend up before advancing - pivot trends channels and using them as moving averages are new - the fact price respected the channel bottom is awesome. Targets above
cooney_s
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Nice chart Kate, so this confirms the Risk On sentiment currently playing out.
kate25
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If I lose the bottom channel then nope - lol. Hey Coondawg nice seeing you again
cooney_s
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thanks, likewise, good to see your thoughts again, always very insightful and a benefit to the community. In regards to price action, as they say, "its working, until it doesn't, lol.
kate25
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As you. I like it...works till it does not
cooney_s
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LOL, and on cue, as we say its a Risk On environment, I see Risk Off making a play to take over intraday.
kate25
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Im like the frog in the herons mouth with its hands around the birds neck - price bouncing on the weekly pivot - never go down without a fight - lol