Sister Ann, can I ask you something? When you trade coins, specifically ETH, do you place a lot of importance on the central Pivot point? Yesterday, I traded based on the daily chart and also observed the monthly and weekly frames, calculating the points for each day, month, and week on the spreadsheet. I've read the Pivot book thoroughly, even going through it three times 😁. I really can't believe that I've been able to trade and win continuously for nearly 10 days, understanding how prices move based on the strength of the calculated price zones. Even when my view contradicts those who are more skilled, I don't hesitate. However, after studying the latter part, I got a bit stuck... The other day, the three central Pivot zones coincided with H1 -2-3, and I shorted very well, but yesterday it broke through all three (GPZ). Today, I also have a limit order for a short at H3, but when I looked up, there was a central weekly pivot near the stop-loss price at H4, which made me hesitate and cut the order. I don't know if I'm placing too much importance on this zone, or if in crypto, this zone is just a reference for the market's emotional trend of the day/week, rather than a solid signal. I hope Sister Ann can share some experience with me.
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Wow, reading your message really warms my heart ;). First of all, congratulations on focusing and finishing that sacred book three times (that's tough, not many can do it).
Regarding your question, I'll explain here so that if anyone else is stuck in this area and doesn't dare to ask, they can also learn from it.
I wonder if you asked about ETH "today" in the message for August 3rd or 4th? On August 3rd, yesterday, the CPR was closest to H4, so I guess you were asking about August 3rd. After some time of observation, your market sensitivity has probably increased, which is why you feel a bit uneasy about this. Generally, GPZ, as you mentioned, is a strong confluence; however, the market has been declining continuously for a while, specifically for 3 days. And the larger trend is still bullish + trading range (the larger frame suppresses the smaller one). Therefore, when the price closes above the daily CPR => the bearish scenario at GPZ fails. At that point, you should stand aside and observe, or be quicker to change your bias, okay? ^^
@BangSiNguyen68
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