EURHUF - Good Example of using Pivot Points
I've been trading for over 7 years and I've come to love pivot points! I see pivot points being used constantly and i just wanted to show you EURHUF on a 15 minute chart as an example. When the US market opened they made big moves around yesterday's price level until it hit the first support level. I use pivots to scalp the market so i can compound my longs and shorts to make up for any losses that may have happened!
Pivots are usually only used in day or swing trading on the 1 minute, 5 min and 15 min charts. Zoom out to multiple time frames to check the trend and then take orders only in the direction of the trend to have some confluence going on. Don't just take trades blindly without fully being aware of what's going on. Make sure you read all and any economic news that is out there!!
NOTE: Pivots don't always work but for the most part you can see them being used here in real time.
(This is just a guide to show you how pivots are used, this is not a trading signal)
I don't mind sharing because i want all of us 5% to make some so the big can loose some :)
Pivots are usually only used in day or swing trading on the 1 minute, 5 min and 15 min charts. Zoom out to multiple time frames to check the trend and then take orders only in the direction of the trend to have some confluence going on. Don't just take trades blindly without fully being aware of what's going on. Make sure you read all and any economic news that is out there!!
NOTE: Pivots don't always work but for the most part you can see them being used here in real time.
(This is just a guide to show you how pivots are used, this is not a trading signal)
I don't mind sharing because i want all of us 5% to make some so the big can loose some :)
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