In this post, we are going to make the distinction of what side of a pivot we are entering and understand the pros and cons related to each type. Left side entry is like having a limit order waiting as price is coming into your area and right side entry is like waiting for a turn or confirmation. It’s good to make the distinction and practice getting the experience of each one to see what might fit you personally and in what situation. It’s not that one is better than the other, its the motivation behind the decision that matters. Left-sided entries can be motivated by an out of control impulsiveness and right-sided entries can be motivated by an attempt to avoid risk. Both these motivations are fear-based and will cause trouble. If you haven’t already, check out the “Map Any Market At Time Frame” series that sets the foundations for many of these posts.
First, we review last month’s Copper futures and the AUD/JPY to see what we can learn. Keep in mind that I set these up as a vehicle so others can learn in their own experience from price flow as it unfolds. You start with the instructions for mapping swings and then learn to see beyond the instructions how swings swing and how you can read and trade them. This month we will follow the Russel Futures and USD/CAD.