PivotPoint
What it is
- Pivot point buy means when stock breakout of specific trend
- this can be range breakout after tight consolidation
- this can also be breakout from normal trendline after tight consolidation and multiple resistance
- Make sure that stock is above 10/21 day moving averages so General buy rules still applies here
- One more thing to keep in mind that only focus on low risk setup in this category, if you missed your entry just ignore it
Why you should try it instead of regular breakouts
- Low risk entry so better Risk reward
- Less volatility because not many eyes are on this spot
- Pyramiding positions becomes much easier
Pivot Point when stock breakout after consolidation
- This setup is similar to my low cheat setup, only difference is instead of weekly avwap, we just buy as soon stock break out of lower range
- Here theres' bit more distance between stock ATH and pivot point
- Just make sure that you'll get low risk entry, on range breakout
- Stoploss should be below that day's low
Resources