Price tends to graviate around the daily piovt piont at the beginning of the day and most day unless markets get some big news price will eventually hit the daily pivot and bounce off one way or another your job is to pick the bias of that direction . the tools to do it with are candle stick patterns and hi’s and low’s the best time frame to use daily pivots is 15 minutes or the hourly charts. then watch them as support and resistance price will bounce off those pivot points and mid-pivots
When you get a move from daily central pivot point to either R1 or S-1 you will get a 40-50 pip move you average 40-50 pips per session and you will be able to move up in lot size every to every other month
you have to be patient and wait for it to get back to central pivot point and read candle signs as well as wait for the pivot break in either direction it takes time to learn the pivot system trade a demo to get use to pivot points one you get use to the system move small size to start then build up as your account increases. I would also determine the daily pric bais and put take profit at R-1 for upside and stop at S-1 and for short put take profit at S-1 and stop at R-1 the price will hit either S-1 or R-1 97% of time S-2 and R2 only 35% of time and s-3 and r-3 only 7 % of time
This system works so well becuase the banks and big money traders trade the pivot levels
I think the holy grail of trading are comprised of a profitable trading system, risk management and a lot of patience.
Which pivot points we should use as there are four five types of pivot points system.