FOREX on the Daily Pivot
Strategy Forex Daily Pivot
Strategy Forex Daily Pivot - hours trading system Forex, which is based on the breakdown of support and resistance levels calculated for daily pivot-level (Daily Pivot)
suitable for trading currency pair GBPUSD , unfortunately the other major currency pairs are more or less stable to no avail, so the trade would not recommend it.
On the hourly chart GBPUSD (H1) to install indicator DailyPivot_Ind2
The strategy Forex Daily Pivot:
signal to make a deal we have at the moment when the hour candle (H1) regards breaks or the resistance level R < / span> 0.5, or the level of support S 0.5
1) As soon as the hour candle pierced or touched the level R 0.5 - conclude a deal to buy at the current price - without waiting for the closing hour candles.
If the price is touched or broken the level S 0.5 - conclude a deal to sell at the current price - as well without waiting for the closing hour candles.
2) Immediately after the deal, set to her trailing stop at a distance of 20-50 pips from current price
3) take profit are putting on the level of R2 or S2
4) Stop-Loss are putting on the levels of S 0.5 when buying , R 0.5 for sale
5) In reaching the level of R1 or S1, 50% of the closing of the transaction and translate our position in the level of bezubytka (if she does not rearranged in the profits or to zero by means of a trailing stop), trailing stop leaving the same: 20-50 points!
- Also recommend to pay attention only to the first intersection level S 0.5 and R 0.5 (ie, open only one order per day) - because in this case was obtained by the maximum profit with minimal drawdown in the testing counselor, working on the forex strategy.
- If, after the construction of pivot-levels would be that the price is not between the levels of S0.5 and R0.5, you must wait until the price will go down in the corridor, and only then must wait for penetration levels S0.5 and R0.5 , and thus make a deal!