30 min trading with oscillators and pivot points

30 min trading with oscillators and pivot points is a trend-momentum strategy for intraday trading.

Markets Traded – Forex, Major Pairs (GBP/JPY, EUR/USD, GBP/USD, USD/JPY,

USD/CAD, AUD/USD, USD/CHF).

Time frame 30 min.

Indicators for build this template are - Pivot Points, Exponential Moving Average 50, MACD (8,17,9), RSI 14.

Pivot points have become a very well known and widely used technical analysis tool.

Just like with trendlines, to understand Pivot Points you need to understand Support

and Resistance.

The 50 EMA is a very important for tha analysis of the trend.

MACD is a trend following indicator, and is designed to identify trend changes. The

histogram shows when a trend change occurs.

The indicator also indexes its values between 0 and 100, thereby giving a ceiling and

floor (overbought and oversold) for the indicator values.Buy signals are typically taken when the indicator increases from below 30 (below 30 is considered oversold) and sell signals when the indicator decreases from above 70 (over 70 is considered overbought). Additionally, some use the midpoint of 50 in order to determine their bias. A reading above 50 indicates a bullish bias and below 50 a bearish one.

Buy

The price e above the 50 Exponential Moving Average.

MACD histogram e above zero level.

RSI above 50 line.

Entry is above support line or a broken resistance line.

Stop loss is below the closest/next support line.

Target is at nearest resistance line.

Sell

The price below the 50 Exponential Moving Average.

MACD histogram below zero level.

RSI below 50 line.

Entry is below support line or a broken resistance line.

Stop loss is above the closest/next support line.

Target is at nearest support line.

short trades for eur/usd pair 30 minutes chart. At point 1 from

the above chart, the price is below the 50 EMA. The MACD histogram is below the zero

level. The RSI is below the 50 level.

The above conditions are met so I placed a short trade. I placed my stop loss above the

recent pivot high and I placed my profit target at the next pivot point.

Entry price: 1.4340

Stop loss: 1.4370

Take profit: 1.4310

Profit: 30pips

eur/usd pair chart on a 30 minute chart and the set up is as follows by the

system requirement. Based on the above chart at point 1 price is below the 50 EMA. At

point 2 MACD Histogram is below the zero line. At point 3 the RSI is below the 50 line.

All the requirements are met therefore I placed a short trade at point 4. I placed my stop

loss above the closest resistance level at point 5 and I set my profit target at the nearest

support level as shown at point 6 on the above chart.

Entry price: 1.4420

Stop loss: 1.4454

Take profit: 1.4388

Profit: 32pips

gbp/usd pair on a 30 minute chart and the set up is based on the system

requirement. From the above chart at point 1 the price is below the 50 EMA. At point 2

MACD Histogram is below the zero level. At point 3 the RSI is below the 50 line

All conditions are aligned and I opened a short trade at point 4. My stop loss is placed

above the closest resistance level at point 5 and I placed my profit target at the closest

support level shown by point 6 on the chart

Entry price: 1.6420

Stop loss: 1.6476

Take profit: 1.6380

Profit: 40 pips

Example of a long trade for the pair usd/cad on a 30 minute chart.

All the conditionsare aligned for a long position. At point 1 the price is above the 50

EMA. The MACD Histogram is above the zero level at point 2 and at point 3, RSI is

above the 50 line.

Therefore, having all conditions agreed, I opened a long trade (buy) at point 4 and

placed my stop loss at point 5 which is the nearest support. My target profit is the next

resistance at point 6 on the chart. After 3-4 bars, about 1 ½ hours later, I attained my

profit target.

Entry price: 0.9702

Stop loss: 0.9665

Take profit: 0.9740

Profit: 38 pips