Another Way To Trade Pivot - MT4/MT5 Resources
Here, I'm doing almost the opposite of what Davitt did. I don't expect the S/R to bounce back, but rather use it as a trend continuation.
So it is more of a trend trading system than counter trend trading.
When price reaches or touches 61S/R, I expect price to continue moving in the same direction.
There's not much to explain, it's easy to understand. Give it a try and post your transactions.
Take Profit and Stop Loss: I use 2 S/R for setup. Adjust your risk accordingly.
Looks right to me; GBPCHF, GBPUSD, GBPNZD, EURAUD, CHFJPY, EURJPY, GBPAUD, GBPCAD, EURNZD, GBPJPY.
PS: I am not responsible for your gains or losses.
Credit goes to Davit for the original pivot system.
So it is more of a trend trading system than counter trend trading.
When price reaches or touches 61S/R, I expect price to continue moving in the same direction.
There's not much to explain, it's easy to understand. Give it a try and post your transactions.
Take Profit and Stop Loss: I use 2 S/R for setup. Adjust your risk accordingly.
Looks right to me; GBPCHF, GBPUSD, GBPNZD, EURAUD, CHFJPY, EURJPY, GBPAUD, GBPCAD, EURNZD, GBPJPY.
PS: I am not responsible for your gains or losses.
Credit goes to Davit for the original pivot system.
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