Missed Pivot Points is an indicator used to look for profit targets when an upward trend begins to lose its momentum. In other words, it attempts to find the inevitable correction just before it happens. Missed Pivot Points can be used for the long-term or short-term. Levels are daily, weekly, and monthly, which can be customized according to the user’s preference.
The Missed Pivot Points indicator is a key tool for analyzing and determining price targets, particularly for long-term trends. The indicator is promoted by Rob Booker, an experienced entrepreneur and currency trader.
During customization, a user can decide which period to focus on (i.e. daily, weekly or monthly), as well as determine the size and boldness of each line, defining the lines for optimal visualization on the chart.
To use the Missed Pivot Points indicator, start by choosing your preferred financial instrument that you enjoy following. Missed Pivot Points will be the ideal target, especially for long-term reversal trades.
Look for a consolidation of many Missed Pivots, which will present themselves as horizontal lines, one on top of another. According to Rob Booker, these Missed Pivot levels will also line up quite well with the user’s preferred Fibonacci Retracement levels.
When looking for targets on a long-term reversal trade, keep a look out for Missed Pivot Points. Booker believes there are no better targets for this scenario.
Missed Pivot Points are used to set price targets, regardless of the longevity of a trend, although they are more distinct when utilized for long-term reversal trends. Missed Pivot Points are represented as levels on the chart that can be customized to ensure their visibility and importance depending on a trader’s wants or needs.