Trading Forex Pivot Points Strategy
This system uses a 15 min, 30min and 1 hour. This is applicable to all currency pairs.
Forex Indicators:
- Pivot Points levels
- Fibonacci Support and Resistance
SCENARIOS:
The price is below the Pivot but above S1.
- Buy above the pivot, (if price reaches above pivot)
- Sell below S1(if the prcies goes below S1).
The price is above Pivot but below R1.
- Buy above R1 (if the price reaches above R1).
- Sell below Pivot(if the price goes below Pivot).
The price is very near to pivot (+/- 0.02%)
- Buy above R1 (if the price reaches above R1).
- Sell below S1(if the price reaches below S1).
The price is between R1 and R2.
- Buy above R2 (if the price reaches above R2).
- Sell below Pivot(if the price reaches below Pivot). Take note, do not sell below R1. You must sell below Pivot.
The price is between S1 and S2.
- Buy above Pivot (if the price reaches above Pivot).
- Sell below S2(if the price reaches below S2). Take note, do not buy above S1, buy only above pivot.
The price is between S2 and S3.
- Same rule applies as rule 5. Buy above pivot sell below S3.
The price is between R2 and R3.
- Same rule applies as rule 4. Buy above R3 sell below Pivot.
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