Hi All,
Just after some opinions, so I have been trading a Price Action strategy on the 8hr charts which go like this:
Identify trends using Bullish / Bearish engulfing candlesticks matching Higher highs and Lower Lows and look to trade within large support / resistance levels.
I don’t use indicators or SMAs or EMAs or anything as I found it muddied the water (for me anyway)
However I’m thinking of incorporating Pivots, on this range I was thinking of using the weekly pivot points and just ensuring I don’t trade the wrong side of the Central Pivot Point, as I’ve noticed if price is caught between support and resistance levels it tends to bounce around that pivot prior to any large price movements.
Also it would be nice to incorporate them to develop a better exit strategy than my current one.
Has anyone else had any luck with using pivot points in a strategy? Or uses them at the moment for entry/exits?
Any comments would be most welcome.