forex pivot strategy

Forex Pivot Strategy You Must Know

In this post, I am going to share with you a reliable forex pivot strategy that I love to use. First of all, let me introduce you to the pivot indicator in case you never heard of it before. The pivot indicator is an indicator that is constantly being used by institutional traders. It consists […]

Be Sociable, Share!

    In this post, I am going to share with you a reliable forex pivot strategy that I love to use. First of all, let me introduce you to the pivot indicator in case you never heard of it before.

    The pivot indicator is an indicator that is constantly being used by institutional traders. It consists of several levels of support and resistance namely, S1, S2, S3, Pivot, R1, R2 and R3.

    As this indicator is commonly used by big dog traders, those levels above are usually levels of strong support and resistance. You will find that the price usually get repelled by these levels when it first touches it. When the price breaks through these levels, it will do so with a big move.

    So How To Trade The Pivot Strategy?

    Step 1: Plot the 4 Hour pivot on any desired time frame

    Step 2: Wait for the price to hit the pivot levels

    Step 3: Enter a trade to trade the repulsion of the price

    forex pivot strategy

    Due to the strong level of support and resistance that this 4 hour pivot is providing, the price most of the time will be repelled by it and that is exactly what we are doing in this forex pivot strategy.

    Do note that you will only enter a trade when the next candle after the candle that hits the pivot level is of opposite color. This will greatly increase your chance of winning.

    Be Sociable, Share!