GBPUSD, H1 projectionin what looks like a dicey setup, we still expect price to drop further.
line Y may be retested. and as such, one must be careful on when to take position in order not to risk too much.
Marketprice
EURUSD 15M PIVOT POINT DAY TRADING STRATEGYSetup chart with -
Volume,
Pivot standard,
Sessions on chart.
Step #1: Trade only at the London open or the 8:00 AM GMT.
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 we’re trading above the Central Pivot Point.
Important Note * If after the first 15-minutes into the London session we’re too close to the first support level we better skip this trade opportunity because the profit margin has tightened.
Step #3: Hide your Protective Stop Loss 5-10 pips below the Central Pivot.
Step #4: Take Partial Profit #1 at Support 1; Take Partial Profit #2 at Support 2 or let 2nd TP run.
Step 5 As price hits R2 move SL to PP. As price hits each R level adjust SL to past R level.
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.
