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Digg it UP - Pivot Point Trading Strategy - Two Specific Setups To Watch For
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- London Open (700 GMT)
- London Close (1500 GMT)
The Asian session does not generally cause price to make new highs or lows. Trading orders and flows build up after the open of the European session in Frankfurt and take on new momentum once London opens an
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You can either go online and download a pivot point calculator or use the free one referenced in the resource box below.
Simply get the High, Low, Close, Open figures from the daily chart by checking the previous day's candle values and enter them into the calculator.
You can then draw horizontal lines on your chart marking the Central Pivot Point and then the other reference levels such as S1, S2, R1, R2 (S for support, R for resistance).
When pivot point trading it is also a good idea to put the mid reference points in also, M1, M2, M3, and M4 as price often will respect these levels.
The Indicators You Need For The Setup
It is good to have the 15 minute, 60 minute, and 4 hour charts displayed.
After marking the pivot point levels on your 15 minute chart, also show the following on the three time frames:
- The 200 EMA (Exponential Moving Average)
- Do Fibonacci calculations on the most significant highs and lows on the three time frames
- Mark significant previous support and resistance on the 60 minute and 4 hour charts with a horizontal line
Time Of Day
Look for this setup around two time periods:
- London Open (700 GMT)
- London Close (1500 GMT)
The Asian session does not generally cause price to make new highs or lows. Trading orders and flows build up after the open of the European session in Frankfurt and take on new momentum once London opens an h
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You can then draw horizontal lines on your chart marking the Central Pivot Point and then the other reference levels such as S1, S2, R1, R2 (S for support, R for resistance).
When pivot point trading it is also a good idea to put the mid reference points in also, M1, M2, M3, and M4 as price often will respect these levels.
The Indicators You Need For The Setup
It is good to have the 15 minute, 60 minute, and 4 hour charts displayed.
After marking the pivot point levels on your 15 minute chart, also show the following on the three time frames:
- The 200 EMA (Exponential Moving Average)
- Do Fibonacci calculations on the most significant highs and lows on the three time frames
- Mark significant previous support and resistance on the 60 minute and 4 hour charts with a horizontal line
Time Of Day
Look for this setup around two time periods:
- London Open (700 GMT)
- London Close (1500 GMT)
The Asian session does not generally cause price to make new highs or lows. Trading orders and flows build up after the open of the European session in Frankfurt and take on new momentum once London opens an
To fail to prepare is to prepare to fail. Great presentations require much preparation. A good presentation starts out with introductions and an icebreaker such as a story, interesting statement or fact, joke, quotation, or an activity to get the group warmed up. The introduction also needs an objective, that is, the purpose or goal of the presentation. This not only tells you what you will talk about, but it also informs the audience of the purpose of the presentation.Next, is the body of the presentation. Do NOT write it out word for word. All you
The Indicators You Need For The Setup
It is good to have the 15 minute, 60 minute, and 4 hour charts displayed.
After marking the pivot point levels on your 15 minute chart, also show the following on the three time frames:
- The 200 EMA (Exponential Moving Average)
- Do Fibonacci calculations on the most significant highs and lows on the three time frames
- Mark significant previous support and resistance on the 60 minute and 4 hour charts with a horizontal line
Time Of Day
Look for this setup around two time periods:
- London Open (700 GMT)
- London Close (1500 GMT)
The Asian session does not generally cause price to make new highs or lows. Trading orders and flows build up after the open of the European session in Frankfurt and take on new momentum once London opens an
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- The 200 EMA (Exponential Moving Average)
- Do Fibonacci calculations on the most significant highs and lows on the three time frames
- Mark significant previous support and resistance on the 60 minute and 4 hour charts with a horizontal line
Time Of Day
Look for this setup around two time periods:
- London Open (700 GMT)
- London Close (1500 GMT)
The Asian session does not generally cause price to make new highs or lows. Trading orders and flows build up after the open of the European session in Frankfurt and take on new momentum once London opens an
A business plan presents an interpretation of differing perspectives. Three are critical to creating a business vision. These views form around typical worldviews. They are the future, past and present.The future is the most challenging view of the three. A business plan provides a blue print of our vision of the future. We look into our crystal ball and make many choices about what the world will be like, what it will need and how we fit into that environment. The business plan we create is the embodiment of the vision and a measurement stick
- London Open (700 GMT)
- London Close (1500 GMT)
The Asian session does not generally cause price to make new highs or lows. Trading orders and flows build up after the open of the European session in Frankfurt and take on new momentum once London opens an hour later.
Similarly, price action often slows considerably around the time of London closing.
Look For This Setup At London Open
Check to see if price is anywhere near M4 or M3 on the upside or M1 or M2 on the downside on your 15 minute chart.
Next consult your higher time frames, the 60 minute and 4 hour to see if any of those M levels coincide with a Fibonacci retracement or extension level, or the 200 EMA, or a previous support resistance line.
If you get a combination of those factors, there is a high probability price will test the M levels and then reverse and go in the opposite direction for the day.
Of course, nothing is guaranteed but the more factors you have coinciding at a specific level around a pivot point, the more likely price will react at that point.
Check to see where a 20-30 stop will put you and whether there are other levels of support and resistance nearby to offer protection and start taking profit as price approaches the other pivot levels either on the way up or on the way down.
Remember, pivot point trading suggests that when price is around M4 or M3 you are in a sell area and when price is around M1 or M2 you are in a buy area.
Look For This Setup At London Close
Now we come to the other end of the trading day which also lends itself to pivot point trading.
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