Pivot Trading- a new way of Trading

[wisp]

[quote="Subhadip, post: 1179304"]:clap::clapping::thumb:[/QUOTE] Subhadip, One doubt, what if price turned down prior to confirmation of rally as in this image? would you consider that a rally and mark the high as pivot?

[IMG]http://imagizer.imageshack.com/img923/8492/ImC4El.png

 

[ramswamy2006]

WISP Sir, you already answered, there is no confirmation of Rally, so no PH.
I remember subha sir said with a chart once, in a Rally / Decline there can be a RED/GREEN Candle. These three GREEN are like that.

Sorry, if i'm wrong, even i'm new to the system.

 

[crakeshm]

Hello everyone....How do we manage this trade.Shall we wait for the stop to hit or go out.Decline stopped which is confirmed at the 3rd last red candle.

 

[core12]

If were in this trade i would be in 2nd add with stop at first short.
Pivot method requires that you let it hit your stop i think.

 

[vagar11]

Can someone explain how decline is confirmed at B?

I am starting the count from bar A. Let's say its bar no. 1. The bar 3 crossed A. Now, all the bars from bar#4 to bar #7 are inside bar 3. Now, the bar 8 (Red bar B) crossed the low of bar#3. So as per me it's tells us that decline has just started.

 

[core12]

In my opinion point A to G is rally.

 

[niftytaurus]

Can someone explain how decline is confirmed at B?

I am starting the count from bar A. Let's say its bar no. 1. The bar 3 crossed A. Now, all the bars from bar#4 to bar #7 are inside bar 3. Now, the bar 8 (Red bar B) crossed the low of bar#3. So as per me it's tells us that decline has just started.

Bar 2 & bar 3 make lower low..in rally we check lows..so here we get lower lows..so rally is in question ...now for confirmation ,we need a break of low of candel 3..candel 8 breaks the low of candel 3 ..so now decline confirmed
thanks

 

[Subhadip]

Good evening to all, sorry for being late..... will try to reply ASAP...

 

[singsanjay09]

Bar 2 & bar 3 make lower low..in rally we check lows..so here we get lower lows..so rally is in question ...now for confirmation ,we need a break of low of candel 3..candel 8 breaks the low of candel 3 ..so now decline confirmed
thanks

IMO candle 3 has lower low, now price need to crack lower low to start decline but without making higher bar high. If higher bar high made without cracking lower low then start as fresh.so no decline there IMO.

 

[Subhadip]

so now it is time to identify which are the minor pivots in the above chart..

A, I & M ARE mph
B & L ARE MPL[/QUOTE]

A G I K M mph
B H J L mph

I have doubt o. J , H and G I

I agree with Niftytaurus

Mukesh


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So Nifty Tauras is Right....

Other points are not minor pivot.