BillBSS - Do you trade a PP system? — Quick One...

Pivot Point, Psych Levles and Intra Day Trend Lines

Pivot Point Probabilites — John Person has a book about Pivots that's a little dry but very informative. He states that many large institutions use a PP indicator on a 15 min chart based on the NY close. I'm not smart enough to make this stuff ...

Pivot Point, Psych Levles and Intra Day Trend Lines

BillBSS - You are correct. — Bill, All my analysis is done off a PP indicator that uses the NY COB as the start of the day.

Pivot Point, Psych Levles and Intra Day Trend Lines

Location of PP indicator — url Click on Pivot Point Indicator For MetaTrader. This PP indicator is based on the close of business for the US Session.

Pivot Point, Psych Levles and Intra Day Trend Lines

A Pivot Point statistic for you... — Once price chooses a direction for the day it will move from the pivot point to S1 or R1 75% of the time. So far this year... 100% of the time.

Pivot Point, Psych Levles and Intra Day Trend Lines

Why do these levels work? — As a retail trader... which is what the vast majority of us are... you account for a meager 14% of all the trading activity on the FX markets. So... Pivot Points work because they are used on almost every traded ...

Pivot Point, Psych Levles and Intra Day Trend Lines

EURUSD - Longer Term Look — I don't trade anything other than the current session. EVERY decision I make is based on price action, pivots, psychs and trend lines of the EURUSD on a 15 min chart. However... a quick fib study of the EURUSD on a ...

Pivot Point, Psych Levles and Intra Day Trend Lines

Further thoughts on Above Chart (Jan72007) — Notice how the price action took the EURUSD to .4700 and acted as support one final time before giving in during the European session. I won't buy if price is below the pivot point(blue line on the ...

Pivot Point, Psych Levles and Intra Day Trend Lines

Jan 7 - Nice Moves during both sessions — Last night prior to the European session I said that .4700 would be a very key line in the sand. It broke during the European session and during the US session. (after a retrace) Both times it moved ...

Pivot Point, Psych Levles and Intra Day Trend Lines

Real Time Analysis on the EURUSD — As usual we are looking at a 15 Min chart of the EURUSD. It's the only chart I use to trade. Take a look at 1.4700. That's going to be a critical support moving into this evenings European session. Price ...

Pivot Point, Psych Levles and Intra Day Trend Lines

December 27 2007 — Price touches the PP during the Asian session. I begins to move north and meets with resistance at R1. I need a confirmation that price is going to move through R1 so I may place a buy order at .4520. Price continues to move ...

Pivot Point, Psych Levles and Intra Day Trend Lines

Good Point Howard — I usually wait for price to move through one of these levels and pull back prior to entering the trade. However... I may have taken the trade to be quite honest. I would have been stopped out with a 15 PIP loss. m

Pivot Point, Psych Levles and Intra Day Trend Lines

Analysis for December 28th 2007 — During the Asian session price pushed below our .4600 level. Later during the session price touched our .4600 level and began to move up. Keep in mind that since we start the day above the PP we are thinking ...

Pivot Point, Psych Levles and Intra Day Trend Lines

Sorry... I meant... — R1

Pivot Point, Psych Levles and Intra Day Trend Lines

Jan 2 2007 - A little harder but Profitable — Let's take a look at January 2 2007. Price begins above the PP. We are thinking buy. You could have entered at the daily high and took profit at R1 during the start of the European Session. Not me ...

Pivot Point, Psych Levles and Intra Day Trend Lines

December 31 2007 - Another Great Example — Let's take a look the last day of the year. A great day to be an intra day trader. Click on the chart below before reading further. Notice how prices hovers below our psych level. It never get there ...

Pivot Point, Psych Levles and Intra Day Trend Lines

Thanks BillBSS — Thanks again BillBSS. m

Pivot Point, Psych Levles and Intra Day Trend Lines

Thanks Phil — Good question. Honestly... I forget. I didn't author the indicator but I thought the same thing when I first started trading it. I'll look around. There was a reason and it made sense.

Pivot Point, Psych Levles and Intra Day Trend Lines

Appreciate the Kind Words - Thanks BIllBSS — m

Pivot Point, Psych Levles and Intra Day Trend Lines

Thanks BillBSS — I'll try to proof my post a little better. m

Pivot Point, Psych Levles and Intra Day Trend Lines