Like most investments, trading is a risky investment that has huge benefits and may be ideal for everyone. However, a keen and observant trader understands the risks and proper tools and strategies to guarantee success in any risky endeavour. That is why it is advisable to use tools that meet your goals, objective, financial status, and experience. You certainly don’t want to amass losses, which can even exceed your capital. The appropriate tools, like the Missed Pivot Points Indicator, can help you avoid such losses and help you achieve your goals. To provide insight, here’s all you need to know about the Missed Pivot Points Indicator.
What Is It?
This is an indicator that searches for profit targets anytime a rising trend reduces its momentum. In layman’s terms, the Missed Pivot Points indicator tries to locate the inevitable correction before it has happened. It can be ideal for both the long and short term. Plus, levels can also be customized to fit your preferences. Check out the trading views community for great ideas.
Rob Booker Missed Pivot Points Indicator | Indicator Series Click To TweetWhat Should I Look For?
Keep a look out for the consolidation of many missed pivots, which should be displayed as horizontal lines – each on top of the other. According to Rob Booker, the missed pivot levels should be in line with your preferred Fibonacci Retracement levels. Remember to look for missed pivot points if you’re searching for targets on a long-term reversal trade.
How Does It Function?
The tool allows you to choose a period to focus on during customization, like daily or weekly, in addition to determining each line’s boldness and size. When using the Missed Pivot Point Indicator, begin by selecting a financial instrument that suits you, and one you enjoy following. As one tip, Missed Pivot Points are usually the best target, especially if you prefer long-term reversal trades. (Look at the historical prices of several stocks and trading assets on Tradingview’s charts)
Final Thoughts
While Missed Pivot Points are more distinct in long-term reversal trends, they are utilized to set price targets, whether it’s short or long-term trends. They are generally presented as levels on the chart, which you can customize to ensure visibility and importance based on the user’s needs and preferences. But if you still find it hard to understand the whole concept, feel free to contact DGM Tech Solutions.
DGM Tech Solutions is your number one IT Services and Consultancy agency for any trading tools and financial services. To learn more about Missed Pivot Points Indicator or our services, visit our website.