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The pivots trade

The pivots trade is a trading  system based on the pivots levels. The system can be traded on a wide variety of currency pairs but it works best on the GBPUSD, EURUSD, USDJPY, AUD/JPY and the AUDUSD currency pairs. The best time frame is 60 min or 30 min.
Indicators:
Pivot levels (today all trading platform have this tool);
50 EMA (exponential moving average);
MACD (8,17, 9);
RSI 814 period).

Rules the pivots trade

Buy
1. The current price candle to be above the 50 EMA.
2. The MACD to be > 0 level..
3. The RSI (14) > 50 level.
4. Entry when the current price candle is above or broken Pivot Points ( S1-S2-S3, R1-R2-R3,) .

Sell
1. The current price candle to be celow the 50 EMA.
2. The MACD to be < 0 level..
3. The RSI (14) < 50 level.
4. Entry when the current price candle is below or broken Pivot Points ( S1-S2-S3, R1-R2-R3,) .

Initial Stop Loss is placed below/above the closest/next Pivot Point level.
The Profit Target is placed at the nearest Pivot Point level.
For entry position to wait for the current candle to close then confirm the conditions.
The pivots trade
The pivots trade

The pivots trade
The pivots trade
The pivots trade Reviewed by learn forex trading on October 30, 2014 Rating: 5

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