, 3 tweets, 2 min read Read on Twitter
#TRADING HTF pivots vs price behaviour; Usually HTF pivots, monthly upper pivots acts as a resistance and monthly lower pivots acts as a support; if any of these breaks, there exists a prospective rally; it was observed in #BANKNIFTY AND #NIFTY today ....
....Price was hovering around Monthly upper pivot region for almost 2.5 hours before it broke out convincingly and subsequently a rally followed. Shows the significance and power of pivots and more particularly HTF pivots. The blue zone is the Monthly CPR (Central Pivot range).
Another eg of the significance of HTF pivots.... In this case the illustration is its resistance power.... Note price tries to break the Blue upper boundary and fails and drops all the way down....
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