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Trying to Interpret Intraday Moves Above & Below Longer Time Frame Pivot Levels
Hi Billy,
I was hoping you could share your views and thought process when you see IWM crossing back and forth above and below major, long time frame pivot levels, e.g. on Tu, Nov 1, IWM bounced around/between SS2 (6) = 72.33 & YPP (8) = 71.25.
Do you pretty much ignore all this as "noise" and focus only on the closing levels?
At this time, the EV tools (20d MF & robot signal) are indeterminate/Neutral; does this affect how you answer the forgoing? if the EV tools were signaling a trending move would you view the intraday action above/below key pivot levels as more relevant?
Thanks,
Shawn
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