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Using "Big Picture" Analysis to Guide Trading Decisions - Brent Penfold
Better System Trader
Pivotal Pivot Points Are as Old as Time
Markets trends commence from pivot points or value areas. They will continue until they reach either a support or resistance level. At support and resistance levels, trends can either rotate back towards their pivot point or value area to recommence a trend continuationor simply reverse. If prices get below support, prices are very weak. Trends that go beyond support and resistance, 50% extensions are very, very strong.
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