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Re: Learning Technical Analysis Q&A

Charts below shows what would have happened had I ranked the soft pivot highly, I would have been tipped out. I can now adjust my reference line back to a momentum line to incorporate the last data point. If you look at Chart seven, I have another high turning soft pivot. I anticipate more consolidation. Note I'm getting closer to my secondary target.

Last Chart (current price action). Consolidation back to the momentum line has occurred (as anticipated). Note the upward turning hard pivot. My momentum line has now become (because of the second touch) a hard pivot line (and an ascending plane of support). I now have two hard touches and a soft touch on this line. A break of this line now is where I will take profit. (and look to short back down to the lower hard pivot line on retracement). Note that no high turning hard pivot has yet occurred and the price action is at a distance form the hard pivot resstance line. I'm still in the trade.

Hope that makes it clear for everyone what I was talking about.

Cheers

Sir O

<blockquote data-quote="Sir Osisofliver" data-source="post: 692937" data-attributes="member: 20188">Re: Learning Technical Analysis Q&amp;ACharts below shows what would have happened had I ranked the soft pivot highly, I would have been tipped out. I can now adjust my reference line back to a momentum line to incorporate the last data point. If you look at Chart seven, I have another high turning soft pivot. I anticipate more consolidation. Note I&#039;m getting closer to my secondary target.Last Chart (current price action). Consolidation back to the momentum line has occurred (as anticipated). Note the upward turning hard pivot. My momentum line has now become (because of the second touch) a hard pivot line (and an ascending plane of support). I now have two hard touches and a soft touch on this line. A break of this line now is where I will take profit. (and look to short back down to the lower hard pivot line on retracement).&nbsp; Note that no high turning hard pivot has yet occurred and the price action is at a distance form the hard pivot resstance line.&nbsp; I&#039;m still in the trade.Hope that makes it clear for everyone what I was talking about.CheersSir O</blockquote>

[QUOTE="Sir Osisofliver, post: 692937, member: 20188"] [b]Re: Learning Technical Analysis Q&A[/b] Charts below shows what would have happened had I ranked the soft pivot highly, I would have been tipped out. I can now adjust my reference line back to a momentum line to incorporate the last data point. If you look at Chart seven, I have another high turning soft pivot. I anticipate more consolidation. Note I'm getting closer to my secondary target. Last Chart (current price action). Consolidation back to the momentum line has occurred (as anticipated). Note the upward turning hard pivot. My momentum line has now become (because of the second touch) a hard pivot line (and an ascending plane of support). I now have two hard touches and a soft touch on this line. A break of this line [B]now[/B] is where I will take profit. (and look to short back down to the lower hard pivot line on retracement). Note that no high turning hard pivot has yet occurred and the price action is at a distance form the hard pivot resstance line. I'm still in the trade. Hope that makes it clear for everyone what I was talking about. Cheers Sir O [/QUOTE]

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