Trading forex with pivots

andrewmooton

Active member
192 1
Hi there,

I'm thinking about developing a strategy to trade forex intraday with pivot points.

i was wondering what people think abou he usefulness of pivot points in general and any tips to help me develop a system to use them.

Thanks
Andrew
 

Taz

Active member
159 7
Andrew,

I meant to add that I use pivots and them very useful for trading cable; however I only use the main pivot.

http://www.pfxtrade.com updates s/r levels several times a day for the main pairs and I have found them to be very accurate.

Taz
 

Buk

Established member
615 6
one or two peeps use the main pivot as a guide to confirming set ups on the various crosses. How you integrate it into your trading plan will depend on which type of set ups you plan to use. Best thing to do is observe the (main) pivot on a daily basis & see how price reacts around it on your chosen pair....it's not a 'nailed on' long above/short below indicator, more an addition to your other t/a armoury....occasionally you'll notice it coincides with a prev day's 'action level' (as it did yesterday & today ), thus highlighting/confirming potential moves....other times it will show nothing, merely sitting bang in the middle of ranging price action....as Taz has pointed out, it's a helpful addition to your awareness. I tend to use it as an 'action watch' level & it certainly helps in strengthening trade entries coupled with other t/a.

I haven't found the s/r pivot levels particularly beneficial to be honest, but then, maybe you might want to research that aspect yourself....as with any t/a - indicators you might use, a good understanding of their uses & limitations is essential if you're going to incorporate them into a strategy.......good luck with it!
 

Faris

Active member
143 1
Hello Taz

Iv had a look at PXtrade before, but couldn't find the page where it shows you updates on S+R
levels. Hoping you can point me in the right direction.
Think its about time to make another appointment with my optician. Better tell him to thicken my specs to the max

Faris.
 

Taz

Active member
159 7
Hi Faris ( or should it be Mr Magoo ? :LOL: ),

Go to www.pfxtrade.com, and click on the link for the News Room; all will be revealed ! Remember you need to register to gain access.

Taz
 

John Cyprus

Junior member
33 1
There are many ways to trade Pivots so try not to use them on their own as they just don't work. Try using them in conjunction with a method ie. reversals work well.

I was looking into the Camerilla stuff as I think it is based on Pivots at Support and Resistance but not an expert in this area. I think there are other threads on this too.
 

andrewmooton

Active member
192 1
The reason I started this thread is because I just got the peter bain one more zero book, cant remember where from though.

If anyone wants it send me a PM and i'll email it to you.
 
 
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