Pivot Point Trading system

Hello there!

Today, we will be talking about about Pivot Point. What are
pivot points? Pivot points are turning points. They are points
where we expect price to have a u-turn or continuation of trend.
They are the most profitable trading method yet are grossly
underulitilzed by most traders.

The concept behind pivot points is that when price reaches a
point, it either breaks it upward/downward or reverses. It is
critical to know these points so we can know where to place our
entry.

Pivot Point (PP for short) is a point below which we sell the
currency and above which we buy. Poins above are called
resistances (RR) while those below PP are called supports (SS).
There may be more than one RR or SS depending for evey currency.

Pivot points can be claculated or you can get them from
http://www.actionforex.com/technical-analysis/pivot-points/
pivot-points-summary-200603205734/

Just change it to daily and use standard values.

Simple Entry Rules
All examples are based on MT4 Platform
Use a 15M, candle sticks chart.

Buy Rules
1) Buy above a PP or RR when two candles close above them and
place your stoploss 10PIPs below the PP or RR or
2) Buy when price reaches one-third of of the range between the
PP or RR

Sell Rules
1) Sell below a PP or SS when two candles close below PP or SS
and palce your stoploss 10PIPs above the PP or SS or
2) Sell when price reaches one-third of of the range between the
PP or SS

What about if price did not reach any of your points? Will you
sit all day waitng for price? No! In our next class, I will be
telling you how to go about it.

Till then, keep on keeping those PIPs.
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Hassan Ismail,
MD/CEO Income Legends Concepts