There are times when the big picture argues against looking for a clever entry strategy, and this was one of them. Although Gold was bearish on the daily and hourly charts, its downward progress was labored, making a short unpromising. But there was no conviction behind the rallies either, and so we concluded there was nothing to do. The same was true for the E-Mini S&P: the hourly chart had a bullish bias and downward corrections were unconvincing, but there was not enough energy behind the rallies to suggest they would go anywhere. Thus did we learn that an important strength of the Hidden Pivot Method is its ability to tell us when not to trade.
