The pivots trade ~ forex trading hours pacific time
The pivots trade is a trading system based on the pivots levels. The system can be traded on a wide variety of currency pairs but it works best on the GBPUSD, EURUSD, USDJPY, AUD/JPY and the AUDUSD currency pairs. The best time frame is 60 min or 30 min.
Indicators:
Pivot levels (today all trading platform have this tool);
50 EMA (exponential moving average);
MACD (8,17, 9);
RSI 814 period).
Rules the pivots trade
Buy
1. The current price candle to be above the 50 EMA.
2. The MACD to be > 0 level..
3. The RSI (14) > 50 level.
4. Entry when the current price candle is above or broken Pivot Points ( S1-S2-S3, R1-R2-R3,) .
Sell
1. The current price candle to be celow the 50 EMA.
2. The MACD to be < 0 level..
3. The RSI (14) < 50 level.
4. Entry when the current price candle is below or broken Pivot Points ( S1-S2-S3, R1-R2-R3,) .
Initial Stop Loss is placed below/above the closest/next Pivot Point level.
The Profit Target is placed at the nearest Pivot Point level.
For entry position to wait for the current candle to close then confirm the conditions.
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The pivots trade |
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The pivots trade |
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