There were many posts after the mess up ,some claiming that people here are looking for only tips and not working hard, some wondering how people missed the pivot,
but nobody really has gone to the main cause of this confusion.
Saint, people here have great respect for you and quite understandably so as you are the guiding light for many careers and many lives.People take your words as a gospel truth and are some times scared to express their opinion if they disagree with you. I am sure everybody noticed the pivot but the big confusion was as under :
Lets go back to the initial pages where you explained the new system.I am quoting as under
post no 6545)
The Art of Trail Stopping using Pivots,I thought is obvious........but I think one needs to repeat it.It has been discussed at great lengths in the "Teach a Man to...."thread,but just to remind those of us who may have forgotten.
1.An uptrend is made up of higher pivot lows and highs......important is the lows in an uptrend.
2.A downtrend is made up of lower pivot highs and lows.......the focus is on the highs in a downtrend.
3.In an uptrend,everytime we make new highs,we bring our stops to the low of the recent pivot low.
EXCEPTION:Sometimes,in an uptrend,price makes a higher pivot low and does not go to new highs,and instead goes sideways for a period of time,or pulls back up and forms a clear cut lower high,but it must be visually obvious,.........and then falls through.Stops are therefore still at recent pivot lows although newer highs are not made...........But in both instances,the rule and the exception,those points are very visually obvious.
Though these are golden words but they here give an impression that in an uptrend,you must have a new high to consider the PL as stop and reverse point OR as EXCEPTION you must have a sideways movement for period of time or pull back and form lower PH,so in short a few sideways bar.
Now lets come to todays pivot,the mkt did not make new high and also broke down immediately in next bar after PL without making sideways movement on 60 min bars. So though everyone saw the pivot very clearly,there was a confusion that as per the new rules we reverse here or not.
And Saint very few people will be bold to come out with this Q after the earlier confusion on pivots,major,minor etc etc with the fear that ther will be scoffed at.And very few will take a contrary position to what they perceive as your new system rules. I did find something amiss and posted a question .
So the confusion is genuine,and most are working on these systems,have improved in their trading and they had also seen ythis pivot low quite well. So Saint dont think that your efforts are waste,they are highly useful in shaping a few successful trading careers.
Give benefit of doubt to this genuine confusion and carry on the great work Saint.
Respectlfully yours,
Smart_trade