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EURAUD 10M/15M PIVOT STRATEGY LONG TRADEBest Pivot Point Strategy PDF Pivot Points are one of our favorite trade setups. We’re going to show you what the best method is to trade pivot points through our best pivot point strategy PDF. The pivot point strategy doesn’t require significant trading capital. It can yield positive results right away. More often than not retail traders use pivot points the wrong way. They usually sell to quickly when the first pivot point resistance level is reached and buy too soon when the first pivot point support level is reached. This is the wrong way to trade because you’re trading against the prevailing momentum which is one of the reasons why retail traders lose money. Now, before we go any further, we always recommend taking a piece of paper and a pen and note down the rules of the trading strategy. For this article, we’re going to look at the BUY side. Step #1: Trade only at the London open or the 8:00 AM GMT The best time to trade the pivot points strategy is around the London session open. However, it can be used for the New York session open with the same rate of success. We trade the London open because that’s the time big banks are opening for business, and the smart money operates in the market. Note* We’re going to use the 15-minutes time frame and trade based off of the daily pivot points. Step #2: Buy at the market if after the first 15-Minutes (10M) we’re trading above the Central Pivot Point If after the first 15-minutes (10M) into the London trading session we’re trading above the central pivot point. Then we buy at the market. The trade logic behind this rule is simple. Once the market is displaying a disposition to trade above the central pivot point, we assume that the bullish momentum will continue to persist. If the price of any currency pair is trading above the central pivot point, then the bias for the day is bullish and we’re only looking for buying opportunities. (Opposite if below and bearish bias) Important Note * If after the first 15-minutes into the London session we’re too close to the first resistence level we better skip this trade opportunity because the profit margin has tightened. The next important thing we need to establish for our day trading strategy is where to place our protective stop loss. Step #3: Hide your Protective Stop Loss 5-10 pips below the Central Pivot It’s essential to have a good strategy for your stop loss as much as to have an entry strategy. If the price breaks below the central pivot point then the sentiment has shifted on the bearish side and it’s wise to get out of any long trades. However, in order to accommodate any false breakouts, we also use a buffer of about 5-10 pips below the central pivot point for our SL. Step #4: Take Partial Profit #1 at Resistance 1; Take Partial Profit #2 at Resistance 2. We employ a multiple take profit strategy because we want to make sure we give the market the chance to reach for deeper support levels. The first pivot point Resistance level is the first trouble area and we want to bank some of the profits here. We also advice moving your protective stop loss to break even after you took profits. At the second pivot point, the Resistance level is where we want to liquidate our entire position and be square for the day. Note** the above was an example of a BUY trade using the best pivot point strategy PDF. Use the same rules for a SELL trade – but in reverse. You absolutely need to start using a pivot point strategy as a complementary tool to your support and resistance strategy if you’re not doing it already. These pivot point trading secrets are very powerful price-based support and resistance levels. The best pivot point strategy PDF signals a good entry point near the central pivot point and also provides you with a positive risk to reward ratio which means that your winners will be higher than your losing trades.
by Tradingstrategyguides
USDJPY TRADE IDEA!!I really like this trade idea to the upside. With that reaction off of the daily OB I will take that as a confirmation that we may be in a intermediate term low. Of course depending on what the DXY does for the rest of the weeks to come. I like the idea of the market coming down into the OTE which would be the blue zone and then continue on up. If this happens today I will take the trade idea but I would prefer for this to happen during the London session or NY session on Tuesday and hopefully that will be the low of the week. My main focus for the trade idea would be for the market to tap into 106.800 that is my final target. Which would be the Daily bearish OB I have highlighted. lets see what happens.
Long
by JohnnWick
Whats Your Thoughts On GJ?? As i'm typing this description price seems to be stuck in a really hard place sitting around the 135.600 mark. To be very honest price could go either way, my guess is price could go and touch my daily resistance line and then drop, or price could drop now because I spotted a blade runner on the daily. I'm having neutral thoughts as of now, but what do you guys think will happen?? ill be looking at this pair all week SO STAY TUNED FOR GOOD SIGNALS! BTW LEAVE A COMMENT ON WHAT YOU GUYS THINK WILL HAPPEN WITH GBPJPY!
by lobfxempire
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