8 Minute Read

Tackle Today: Follow the Pivots

October 18, 2022

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«Pivots bring order to the chaos.»

Traders,

Chart reading doesn’t have to be complicated. You don’t have to follow a dozen indicators or spend ten minutes dissecting all the data. Instead, consider focusing on the pivots only. They define the trend while revealing momentum.

▶ If the pivots are rising, the trend is up.

▶ If the pivots are falling, the trend is down.

Successful traders enter trades as close to each pivot as they can. In the chart below, I identified the last three lower pivot highs that formed in SPY. The first down bar that confirmed each pivot was the ideal time to deploy new bear positions.

When a downtrend is in place, each decline has three potential outcomes. They either result in lower pivot lows, equal pivot lows, or higher pivot lows. The first is bearish. The second is neutral. And the third is bullish. Great chart readers know how to spot the pivots and heed their messages.


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Chart of the Day: Pivots

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The past three pivot highs signaled smart times to enter bears.


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Today’s line up

Traders Lounge 11 AM EST

Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.

The Coaches Show 8:30 PM EST

This is our weekly MasterMind group. Join the coaches tonight, 8:30 PM EST to discuss the markets and help you prepare for the week.

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