Pivot piints disadvabtages?

Is it a good idea to trade in between pivot points on the 15min chart?

Pivot Points are a likely area of Support & Resistance, in that way similar to Fibs, EMAs etc. There is obviously no guaranteed reaction when Price hits them, and even when there is a reaction it is not guaranteed that it will be in the direction you want, but I am a fan of Pivots, yes - although I don’t specifically trade the 15 minute. I have different levels of Pivot on the 5, Hourly, 240, Daily and Weekly charts. But as with most (all?) stuff in trading, I would never trade them in isolation, but in concert with my wider analysis. They can help me narrow down my Entry/Stop/TP on some trades, but they are never my reason for entering. They come further down the track than that, once I have formed an opinion on bias etc.

ST

Yes you are right, pivot point should never be the reason for entering a trade, and I just figured this out yesterday, I have already lost many trades.

Thank you :slight_smile:

A lot of people lose initially, just make sure you spend some time reviewing the losing trades, looking at the charts for both how they played out and what made you enter, and see whether there are any patterns to the losing trades. Was your Stop too tight? Was your TP too ambitious? Did you just misread market direction? Or was it a sound Entry that just happened not to play out? There are any number of reasons why a trade loses, I’d strongly urge you to make sure that you understand that reason for every trade you lose, and learn from it.

It does get easier!

ST

Love this. Thanks for reminding us to review our trades.

Exactly, writing down every single move on the chart will come in a benefit afterwards…I couldn’t agree more!

The main disadvantage is when you try to apply it to your trades and it doesn’t work lol :slight_smile: