not sure its a pivot in the traditional sense as dont use them either. just the label i use for a trend breaking/making level.
upside target, i have the former breakout level and filled gap at 12686. the next may or may not be reached and need 12686 to get done. an upper channel (12744) taken off recent lows c.125 and c.124. the second channel i have is off the 16 sept and 15 oct tops at 12758. these are falling a few points each passing day. a couple of fibs at 12727 and 12787 plus 3 monthly lows from 2013 in 12745/55 range make up the picture for me. was considering using the 89 day ema currently 12884 as a marker for any failed bull trap but even if we do a higher high abv last months 12887 youve still got monumental selling interest expected at 12965/13017.
Tallinn viies 21:08:29 GMT - 11/19/2014
personally not using pivots but 1,2440 key level for me also. at least under this level downtrend resumes and may extend down to 1,18sh even this year.
so right now trying to play euro long side as long as 1,2440 contains and as monthly trading range too small still and only 6 working days to go. I expect euro to extend trading range from higher. would be possible to crawl even up to 1,27sh during next week.
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