Plot daily pivot point in the chart (Daily pivot indicators available)
Insert three EMA:
30 period
15 period
4 period
Time frame 1 hour
Buy Rule:
Current pivot is greater than previous pivot.
All EMA 30,15,4 positions are above Pivot .
Entry buy if the price returns to EMA 30.
The target is R3 but this position can be closed if the last 4 candles cannot penetrate upwards while the New York market is immediately closed.
Stop loss is 30 pips and you can Exit if EMA 4 crosses Ema 15 down.
Never buy if the position of EMA 30 is still below Pivot even though EMA 4 has crossed EMA 15 upward. In this case it’s much better if you wait because later you will open a Buy position on Ema 30.
Sell Rule:
Current pivot is smaller than previous pivot.
All EMA 30,15,4 positions are below Pivot .
Entry sell if the price returns to EMA 30.
The target is S3 but this position can be closed if the last 4 candles cannot penetrate upwards while the New York market is immediately closed.
Stop loss is 30 pips and you can Exit if EMA 4 crosses Ema 15 up.
Never sell if the position of EMA 30 is still above Pivot even though EMA 4 has crossed EMA 15 downward. In this case it’s much better if you wait because later you will open a sell position on Ema 30.
Thanks, workhome, wish I had recognized the signal when you did, I go in about the 1281 level and rood it the rest of the way down, took profit at the stall and reentered!
workhom, we trade very similar but with different systems, would you share about the pairs box under your chart? Where it is derived from or how its produce it?
after it bottomed I decided I would ride it back up and now going down again.
GB PM is on now I’ll be back.
I don’t believe free trading systems anymore, unfortunately. They become out of date very quickly. If you want to trade and receive a stable income you have to trade by yourself, or with the help of some support indicators. But I recommend you to take indicators from forex trading official website only.