Counter-trend trading using pivot lines
Monday 26 July 2010 by manuel caesar
I have here a good example for the EURJPY Trade against the trend towards intraday basis (15min). I opened the trade at the pivot point 1h after this long bullish candle Short. Since pivot points represent for me a strong resistance in intraday trading.
Stop for this trade was placed 5 pips above the pivot line. In the best case you could get 40 pips from this trade out. If it had been closed at impact on the daily pivot and 48GD line (red), S1. Figure 3
This entry was posted on Monday 26 July 2010 at 16:03 and is filed under Trades , Trading . Comments on this entry through the RSS 2.0 feed. You can use a write comment , or trackback from your own site.
