Thanks for this. I'll check it out.

Daily pivot bounce

Oh dear! Price stormed through the pivot today as the Euro moved very strongly to the upside. Setting an entry order on the pivot is therefore not a very good idea. Oh well, back to the drawing board. Perhaps a more flexible or reliable strategy, ...

Daily pivot bounce

We have a similar set up today as yesterday. Let's see if a sell order set at the daily pivot produces any results today. image

Daily pivot bounce

Setting a sell order on the pivot worked today, however, strength coming back into the Euro prevented any pips being made. Price just moved sideways all day. image

Daily pivot bounce

You could put a sell stop order just below or on the pivot.

Daily pivot bounce

Good morning daily pivot traders. Here is the EUR/USD 30M chart at 06:28 this morning Monday 20th July. It shows a perfect pattern with good potential. Let us wait for a retracement to (or very near) the pivot. image

Daily pivot bounce

Well spotted. Thanks.

Daily pivot bounce

I thought it may be useful to look at the EUR/GBP price action over the past week and check out how the strategy would have worked. Look at the chart below as see at what times price retraced to the pivot and then bounced down. Notice that I have ...

Daily pivot bounce

Sticking strictly to the strategy of bouncing off the daily pivot, take a look at this chart of the past week and take note of the timings. We can see that a bounce off the pivot has shifted during the past week to the US opening at about 13:30. ...

Daily pivot bounce

I don't know the answer to that. Sorry. I focus on the daily pivot which is also calculated automatically. I have just been looking at all the EUR pairs, and they are all in a strong downtrend. So, for Monday morning I will be looking for a ...

Daily pivot bounce

That's a nice example. Thanks for sharing.

Daily pivot bounce

I have been focussing my attention on trading the EUR/USD and other EUR pairs with this strategy. However, I see no reason to restrict it to these pairs, especially when the set-up pattern is not being presented. Therefore I shall be looking for the ...

Daily pivot bounce

Hi Moti, The chart and indicators are among the tools to be found when using the broker 'IG Index' of London. I use this for my live trades and find it much more flexible than MT4 which I use for my trade explorer. If you want to try the IG Index ...

Daily pivot bounce

Just in case you are all wondering why this thread has been so quiet this past month, it is because the set-up patterns have not been materialising probably due to the uncertainty over the Greek crisis. The market has been very uncertain and ...

Daily pivot bounce

Here is a truly classic example of the strategy at work. Major trend is up with price pulling back close to the daily pivot at about 07:30 (GMT). Price stabilises until about 7:45 when it bounces up. image

Daily pivot bounce

Good morning Pivot Traders. Its been several days since we had a set up for pivot trading, but it looks like we may have one today. Here is the EUR/USD 30 m chart this morning: image Entry was a bit tricky today because price dropped below the ...

Daily pivot bounce

Today is a bank holiday in UK, but that does not mean we can't trade. The Forex markets are still open, and here is today's trade to prove it. Following the rules, we can see that EUR is in a down trend against all other currencies, so we waited for ...

EUR scalping at the European Open

News releases due on French and German flash manufacturing mean we keep out of the market. Too much indecision and unpredictability mean too much risk.

EUR scalping at the European Open

Keep out this morning due to news releases on French and German flash manufacturing figures.

Daily pivot bounce