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Old 07-19-2008, 09:24 PM
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Pivots

Just one last thing before I go.

The importance of Pivot Points.
We use these as support and resistance levels.

See how the 5m picture with just the purple pivot looked on yesterdays USDJPY.
We were only looking for long positions with Crude and Gold falling remember.
Now look at the second snap-shot with our moving averages.
The entry point on the second picture was later, granted, but with all m.a's stacked on top of one another and supporting price action there was still 50-60 pips available, and safer too
Attached Images
File Type: gif pivot.gif (20.0 KB, 15097 views)
File Type: gif pivot2.gif (45.9 KB, 14947 views)
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I'm now sending trading notes out twice a day with videos too. Have a look HERE.
There's one set at 6:30 UK time for London and one at 12:00 for U.S session, plus I will send a summary video after each session
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