Amit just want to have an idea whether my entry was a bit aggressive as I shorted the 1:55 pivot on 5 min TF...did you short the 1:30 pivot on 5min TF.
Ravinder
5 min pivots are very unreliable.... never look at that chart unless you have a super good reason.
Anyway, yes, 1.55 was clearly aggressive because there was a htf support... your short could easily be whip sawed... but with proper selection of SL the trade could still be a winner...
Apparently, yes, I did end up shorting that pivot. But that is never my selection criteria... I look for the chart to get tired... and wanting for some 'action'.... when it comes I enter... and before the faders get in I like to get out since i do not care for how many points but for a very solid success rate....