Neal Weintraub: Pivot Point analysis is merely a tool and should be used with other technical indicators. It can be used to enter a trade, or exit a trade and when combined with average true range is a powerful money management tool. Once you enter a trade, you are no longer a trader, you are a risk manager and should monitor your trades on a weekly or daily basis depending on volatility. When you enter a trade assume you are wrong and let the market prove you are right. This will diminish the hubris and arrogance that is common to many traders. Please use these Pivot Points as a guide to better trading.
The Trend Trader for Forex
For Trading On Friday, December 18, 2009
Presented by the Pattern Trapper – www.PatternTrapper.com – 952-892-5550
Trend Trader readings are based on Daily Pivot calculations. For a detailed explanation Click Here!