Pivot Zones
Hello Smart Trader,
Price action is universal thing,can apply to futures,options,forex and of course the classical equity Markets.
But of couse options market has it's own deep ends.
Well there is nothing to drawing the pivot zones.
Just choose the rectangle tool in MT4 or your platform and drag the rectangle so it can contain all high's and lows in that region.
Most of all pay attention to round Numbers like 35,45 in stocks and 1.4000,1.2500 in forex.
If you have any charts you can draw pivot zones on them,and i can see and tell if they are correct,post them here.
Remember the only thing Stock markets have special is volume,Never trade thinly traded stock they must have 2-5 Million shares per day turn over.
the Share's must be having a value of 100-150 etc for above so no one person can influence price.
Because: 2000000 X 100 =2,00,00,00,00 Rs,who has that money to buy and move market in his favor,you get the idea.
Let me explain my four patterns,i used and their volume implications so they may become useful in other markets.
Tweezer Tops must have heavy volume in both bars,first the falling bar and then rising bar.
----do---- for tweezer bottoms just reverse characteristics,same volume stats.
Bullish Engulfing bars/Outside bars heavy volume on these bars
and bearish ones the opposite configuration same volume stats.
Pin bars must have a huge volume as compared to prior ones.
Post your charts here,i don't care even if they are stock charts,Price action remains the same.
Now my Pivot Zones Chart for you ,is as below.Remember they are zones not exact lines,draw the round number first then see the zone will fit around it.
Regards
Taz
