This forex trading technique is powerful as it allows you to profit no matter hedging strategies in forex market way the market is going. The following pivot point trading strategy has been around for a long time.
The reason pivot points are so popular is that they are predictive as opposed to lagging. The Commitment of Traders strategy is based on a weekly report where large institutional traders have to disclose their long and short positions. It is useful as it helps you determine when a market reversal is looming. The formation of a pin bar is actually a trend reversal featuring 3 bars.