How to USE PIVOTS to enter a trade like a professional swing trader π
Thread! π§΅
Thread! π§΅
What is a PIVOT, see this last thread π
How to FIND an entry PIVOT, see this last thread π
Once I find a good setup and mark my pivot with a line, I then want to place an alert at this price.
When the market opens and you hear all these alerts ringing, what do you do? π€
When the market opens and you hear all these alerts ringing, what do you do? π€
I like to enter using these tactics:
1β£ Enter directly on the PIVOT breakout (you can use automatic stop orders).
2β£ Enter on the hourly (H1) pivot breakout high.
1β£ Enter directly on the PIVOT breakout (you can use automatic stop orders).
2β£ Enter on the hourly (H1) pivot breakout high.
1β£ Pivot breakout entry
The first method I use to enter in trades at pivots is to simply enter a market order when the price crosses it up.
In that case, you get an entry that is very close to the pivot, but the risk is higher that the stock fail is breakout and your at a loss
The first method I use to enter in trades at pivots is to simply enter a market order when the price crosses it up.
In that case, you get an entry that is very close to the pivot, but the risk is higher that the stock fail is breakout and your at a loss
If you work full time, you can also use automatic stop orders at these levels on your broker platform.
βͺοΈ Stop Order @ 19.23$
βͺοΈ With a SL placed at the most recent HL or LOD
If this level is broken, then the whole setup is not still valid based on market structure.
βͺοΈ Stop Order @ 19.23$
βͺοΈ With a SL placed at the most recent HL or LOD
If this level is broken, then the whole setup is not still valid based on market structure.
This way you can automate your trading, but youβll also have to take smaller position because your SL will be larger than the breakout candle Low Of Day (LOD) I like to use. (A full article on this subject soon)
See a PIVOT breakout example:
See a PIVOT breakout example:
2β£ H1 pivot breakout entry
To increase your win rate using these entries, you can ask for a little more confirmation at the pivot.
In that case, you can wait the pivot breakout, and then go on the lower H1 timeframe and mark the HIGH of that H1 candle.
H1 high is @ 19.42 π
To increase your win rate using these entries, you can ask for a little more confirmation at the pivot.
In that case, you can wait the pivot breakout, and then go on the lower H1 timeframe and mark the HIGH of that H1 candle.
H1 high is @ 19.42 π
You can then put an automatic stop order at this price or a simple price alert to enter the trade once we get a breakout of this H1 high.
βͺοΈ Stop Order @ 19.42$
βͺοΈ With a very tight SL placed at the H1 confirmation candle. In that case, @ 18.98$
βͺοΈ Stop Order @ 19.42$
βͺοΈ With a very tight SL placed at the H1 confirmation candle. In that case, @ 18.98$
If you want to know more π
primetrading.substack.com
primetrading.substack.com
Like everything in trading, you have to be flexible, have rules and find your own comfort zone.
Remember, defense first π‘οΈ
If you liked this thread, please like & retweet! ππ
Remember, defense first π‘οΈ
If you liked this thread, please like & retweet! ππ
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