Why Pivots

To start off why pivots, I should warn you it is very difficult to find the pivot where the market is turning. Indicators help but nothing is as important as price action. For example if there is a downtrend there may be 2 bars down, 1 bar up, 2 bars down, 1 bar up and so on. Each of those points is a pivot. In my opinion the easiest way to see a cycling up and down movement is using the 133 tick chart on thinkorswim. Most people starting off in they're trading may spend years on end trying to chase trends. It takes a lot of confidence to enter a trade and if you are chasing trends you are sure to lose. You need to be in the most emotianlly sound state possible, and if you know where the market is turning and you can capture a move in its entirety you will have that emotional soundness.

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What a ToS Pivot Looks Like

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Its pretty simple. We are observing where a pivot turns and how that pivot relates to the trends and back to even more pivots. Sometimes they lead or follow double tops. Sometimes they are wicks that point to wicks farther down the chart. Sometimes you have a bell curve where a lot of volume congregates which precedes a breakout. The bottom line is, whatever the pattern, you have to put it all together based on principle. My mentoring can teach you this. A 133 tick chart is the best because the cycles are more clearly defined than say a 2 or 5 minute chart. Things repeat each other more on these charts as well. The picture overall is more clear. You just have to know how to analyze it. In the case above, its not that I should have caught the second move and you are having a fit over missing it. Its that now you see it has done that same pattern twice and something the same ore similar will happen a third time. www.holygrailfutures.com
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