Pivots or Swing Highs and Lows- I

Pivots are essential in many forms of TA- including the TA i mainly use which is Action-Reaction aka pitchforks

Pivots may also be termed swing highs or lows

Pivots and swing highs/lows may be harder to define than one first imagines

I would define a pivot or swing as follows:

A focus of Price Action (PA) which becomes a reversal point

This is important because either a V shape or inverse V in PA does not equate with a pivot/swing

An acute angle in price may become a pivot or swing in hindsight IF it breaks the trend which price was previously moving along

G.R.I. Dec '21

KEY

P1 pivot one - price in uptrend along blue diagonal

P2- becomes a swing high WHEN blue diagonal is broken to the downside

P3- becomes a swing low WHEN yellow diagonal is broken to the upside

P4- becomes a swing high WHEN green diagonal is broken to the downside

P5- becomes a swing low WHEN pink diagonal is broken to the upside

P6- becomes a swing high WHEN purple diagonal is broken to the downside

P7- becomes a swing low WHEN green diagonal is broken to the upside

Comentarios:

should have added we focus on the highest highs and lowest lows as potential pivots