Just a quick example of how important the pivot low and highs are. They suck you in with big scary candles then rip it the other way. The only way avoid getting spanked is to trade between the highs and lows or wait for a clean break of the pivots. Take note that in this example price has still not broken the upper trend line so its possible that is gets rejected. Watch how it plays out to learn.
Komentarz
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Of note. In the upper post I stated that price did not break the upper trendline. That is incorrect. When I was writing it price was at the line then broke by the time I posted it. So it did not get rejected and broke clean through for a nice upward move.
I mean in the chart it looks to me like the price crossed the trend line. Many thanks.
limeandsalt
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Can you please explain why 'price has still not broken the upper trend line'?, novice here. Many thanks.
WadeYendall
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@limeandsalt, Sorry I guess that is a little confusing as I look at it now. You are right price did end up breaking the upper trendline cleanly. It had not broken the line when I was typing the post and by the time it uploaded it had broken. I should have made a note of that.
Yo bro sorry for being annoying , im new to trading im just practicing with a simulator and exploring company analysis, since i began doing trading with a simulator i've got a 200$ profit even tho the money isn't real. Even tho im new what im doing is finding a company for example one related to fuel, then watch the trading view of it and news and then if it looks positive ill invest. What do you suggest me to learn before investing real money
WadeYendall
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@darisuka122, No problem I don't mind helping new traders. It good you are starting to learn on simulator rather than just jumping in. Learning to trade can take some time. You must develop a repeatable system/process to find trades, execute trades & control your risk. Your process should have a set rules and provide you with edge. The first thing you will have to decide is what time frame do you plan to trade and work from there. Will you be an investor/long term trader, a swing trader or a day trader? Much will depend on your schedule. A good place to start would be to join the Atlas Trading room on Discord. Its free and I've noticed they have a ton of educational stuff there. Check out a trader named @ripster47. He is active on twitter and offers an amazing amount of free info. DM me if you want any other recommendations.
I have been burnt on this a few times myself. Tighten up my stop market, go off and live my life only to come back and be like f#$%. Thanks for sharing.