My idea could be applied to any major price crossroads: fibs levels, S/R, pivots levels, etc.
I will take as an example the weekly pivot on Gbpusd.
I assume that the price will most likely go short with target to the weekly r1 since it created support just under the weekly pivot. So there are 3 possibilities: price will just fluctuate around the weekly pivot, price will break above the weekly pivot or price will go short to my demonstration.
So when price touches the weekly pivot i will place short order and i will take a small profit or a small loss. again when price touches the weekly pivot i will place a short order and so on. If the price goes wildly short i will move my stop loss to break even or take a small profit with TP target to the R1 hopefully.
If i miss the boat after taking a small profit, that's allright another boat will come.
hopefully this works since i just tested it for a small period of time resulting in profits.
I will take as an example the weekly pivot on Gbpusd.
I assume that the price will most likely go short with target to the weekly r1 since it created support just under the weekly pivot. So there are 3 possibilities: price will just fluctuate around the weekly pivot, price will break above the weekly pivot or price will go short to my demonstration.
So when price touches the weekly pivot i will place short order and i will take a small profit or a small loss. again when price touches the weekly pivot i will place a short order and so on. If the price goes wildly short i will move my stop loss to break even or take a small profit with TP target to the R1 hopefully.
If i miss the boat after taking a small profit, that's allright another boat will come.
hopefully this works since i just tested it for a small period of time resulting in profits.