Well, here is the outcome of this morning's move. It would appear that the down move overnight was a bit too drastic, and rather than retrace to the daily pivot and continue the down move, price bounced off the support levels and retraced in a ...

Daily pivot bounce

Good morning pivot traders. This is how the picture looks this morning after all EUR pairs have changed direction to the downside overnight. All indicators are telling us to sell, but the trick is to get then entry right. Wait for the pull back ...

Daily pivot bounce

For all potential daily pivot traders, here is something else I have noticed about trading the EUR pairs using this method. They are showing a tendency to sometimes make a double dip pull-back towards the pivot and then rally upwards strongly at 10 ...

Daily pivot bounce

The market is teaching us this morning that other factors influence it. The GBP is weak today because of the election all day. AUD and NZD are weak, but CHF is strong today. Therefore the EUR is caught between and is therefore straddling a somewhat ...

Daily pivot bounce

In answer to your question Ralfy, and watching what's is happening now, it is often wise to wait. Changing the time frame doesn't move the market. The market has been reticent until 8. Now it moves.

Daily pivot bounce

Its a question of personal preference. I wait for a retracement. You could enter with a larger stop loss. Wait and see if in doubt.

Daily pivot bounce

Good morning pivot traders. EUR pairs are step-up trending again, and the chart below shows how they look at 06:00 GMT. Now we go to the 10 m charts and wait for the pull back. image

Daily pivot bounce

Today was like a lost day because the ideal set up did not materialise, but new information has emerged that could help us make more use of the principle. Look at the attached EUR/USD 30 M chart and see where the two sell signals and the buy signal ...

Daily pivot bounce

No Ralfy. I am concentrating on the EUR pairs only right now.

Daily pivot bounce

I see you have used fib. Would you be able to put the pivot on your charts, so we can see if there is any correspondence?

Daily pivot bounce

A very bearish USD across all pairs has thrown a spanner in the works this morning. Look at these USD pairs at 07:41. image The timing of turning points are crucial, especially when combined with pivot bounces. Look at the timings on these USD ...

Daily pivot bounce

You may be right. It looks promising. I am not to familiar with trading these pairs, so I'll stay out, but if you want to test the strategy with the AUD, see how it works.

Daily pivot bounce

As I watch price action right now on these EUR pairs at 07:12, I am unable to determine the direction. This is a fundamental lesson. If I can't be 100% certain which way price will move, then it is a gamble. Therefore, if there is uncertainty - stay ...

Daily pivot bounce

Hi Ralfy, news days are always tricky, and the pivot bounce strategy is not set up today, so it may be wise to keep out and just watch what happens, just to be safe.

Daily pivot bounce

Be careful with EUR pairs this morning (Weds 6/5/15). After two days of downward moves the EUR hs changed its sentiment to bullish overnight, and with the exception of the strong AUD all pairs are well above their daily pivot. Our daily pivot bounce ...

Daily pivot bounce

Timing your entry is a question of personal preference. Experience helps, and it is also useful to keep an eye on news releases. In any event, the pattern is identifiable and effective. Welcome aboard Gwindy.

Daily pivot bounce

Sometimes it doesn't quite reach the pivot, as happened today. The trick is to wait for the pull back and enter when it starts to retrace down or set a stop entry just below price as it rises. See this mornings outcome for a good illustration.

Daily pivot bounce

Good morning Guys. Here is today's set-up at 06:45. Just waiting for the pullback now. image And here is the outcome. Note that although price did pull back at 7 am, it did not quite reach the daily pivot. Never mind, but be aware that this can ...

Daily pivot bounce

Stand by Guys for another bear move on the EUR. Don't trust to luck or gamble. Just follow the rules and hold your nerve. Wait for the pullback to the pivot and then let it run. Have a good trading day.

Daily pivot bounce