This system is very simple yet very effective
- Place the Weekly Pivot Points on a 1HR chart
- Place a 14 period momentum indicator on the 1HR chart
- place a 14 period RSI on the 1 HR chart.
Look at a break of one of the Pivot Level up or down confirm the RSI is above or below 50 in direction of the break and also confirm that the momentum indicator is above or below the 0 or 100 level depends on which broker the indicator is with and make sure it is heading in the direction of the pivot break if both indicators confirm the direction of the pivot level break place your trade and place your stop just above or below the pivot that pric just broke from and ride the trade to the next pivot level. most of the time the pivot to next mid pivot level on the weekly pivots are in a 100-120 pip range so there are nice trades there.
IF you set your 1 HR chart up like this do historical on your pivot points and mid-pivots included and you’ll find EUR/USD trends up or down 350-500 pips sometime in the week then ranges the rest of the week between the last mid-pivoy and pivoy point alot of time the pair offers up potential 1000-1500 weekly pip potential using the system and if you catch between 350-500 of that range per week you’ll be upping your lots size up quickly.
Alot of banks and professional hedge funds use this as a computer traded system just trading between the weekly mid pivots and pivots on momentum confirmation I just add the RSI to mine for extra confirmation.