Timeframe: 4 hr.
rational: the AB=CD on both the red and blue harmonics line up with previous major resistances or psychological levels. will wait for retracement then enter short with a TP just above the major resistances.
whats your opinion?
1 Like
It must be noted that the weekly pivots are at 1.2306 (right on point ‘D’), AND right at the red harmonic fib retracement (1.24330)
Trade plan: I shorted it friday
are piviot points used anymore since there are no floor traders here?
they are a thing of the past. now so many traders are in different timezones everyone is calculating the start of days differently.
I love pivot points! Especially Camarilla and Fib. Woodie’s pivots on larger monthly timeframes seem to be respected for ideas on where they’ll bounce. I want some opinions though.
Impressive! It’s almost as if we have our very own forex Nostradamus in the house.