pivot points - ForexPromos

While pivot point trading strategy is commonly used, there are risks involved nonetheless. These simple ticks can help you to reduce the likelihood of a trade going against you and thus increase your trade probability. There are many pivot point trading strategies which combines either price action or technical indicators. However, in reality trading with pivot points can be a bit risky as prices tend to respect the pivot levels only some of the times. No matter how well you combine the technical indicators, pivot point trading can be a bit risky. However, this simple trick can help you to identify potential reversal levels and trade more effectively. Pivot Reversals The pivot reversal method is based on the simple rule that broken support is often tested for resistance and vice versa...

Traders familiar with candlestick patterns would know that the engulfing bars are perhaps one of the most strongest of candlestick patterns. Besides, they are also visually easy to spot. The engulfing bars usually represent short term bullish or bearishness in the pair. Trading these patterns by themselves, while might not give consistent results, using these price patterns along with other indicators can ggreatly improve the odds. Engulfing Bars at Pivots This trading strategy is based on pure price action and makes use of pivot points for references. It works off a 1-hour chart, although can be used on H4 as well. For the pivot points, we make use of the weekly pivot points as reference, or monthly for H4 chart interval. Long Positions: A long position is initiated when a bullish eng...

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Simple tricks to trade with pivot points more effectively

Engulfing Bar at Pivots – Trading Strategy