20# Pivot Trading Technique

Pivot and Fibonacci Support/Resistance

Submit By JamesUK 05/06/2013

 

Time Frame 15 min, 30min, 60min.

Currency pairs:any.

 

Indicators:

Pivot Points levels

Fibonacci Support and Resistance

 

1. The price is below the Pivot but above S1.

In this scenario, you should buy the above Pivot (If price reaches above Pivot) and sell below S1(if the prcies goes below S1).

2. The price is above Pivot but below R1.

In this scenario, you should buy above R1 (if the price reaches above R1) and sell below Pivot(if the price goes below Pivot).


3. The price is very near to pivot (+/- 0.02%)

In this scenario, you should buy above R1 (if the price reaches above R1) and sell below S1(if the price reaches below S1).


4. The price is between R1 and R2.

In this scenario, you should buy above R2 (if the price reaches above R2) and sell below Pivot(if the price reaches below Pivot). the important here is not to sell below R1. You must sell below Pivot.


5. The price is between S1 and S2.

In this scenario, you should buy above Pivot (if the price reaches above Pivot) and sell below S2(if the price reaches below S2). The important here is not to buy above S1, buy only above pivot.


6. The price is between S2 and S3.

Same rule applies as rule 5. Buy above pivot sell below S3.


7. The price is between R2 and R3.

Same rule applies as rule 4. Buy above R3 sell below Pivot

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