Trading Process
Pivot
Also called: pivots, base pivot, pivot level
The reference price level for a base breakout or a retest entry, usually the highest point of the base before the breakout happens. I use pivot levels as my line in the sand for both entries and exits, like the $400 level on TSLA which was the top of a five-year base.
In Context
“The thesis is the $400 level is a five-year pivot and it holds on the retest, but if this market pressure continues I'll probably be out of this one soon too.”
Nothing's Changed Yet·Digest
“I missed the initial move out of the prior base so this pullback into the breakout pivot was the secondary entry.”
Nothing's Changed Yet·Digest
“Attempted the first moment I saw it trying to bounce Thursday with my stop under the low in case, looking for it to close back above the pivot.”
Nothing's Changed Yet·Digest
“On its 5-year base pivot and 30-week.”
“TSLA at $410 right on the 30-week and 5-year base pivot, ET in energy using last week's [wick low](/concepts/wick-low) as the stop, and a small ENPH which was sitting in a tight range after its biggest volume gap in over a year.”