How to Use Pivot Points in Forex Trading – Best H1 Forex Pivot Points Levels Trading Strategy Based on MACD, AFL Winner, RSI, and EMA indicator. If you do some research about the Pivot Points, you will find it really useful to have them on the charts even if you follow a different trading system.
Most traders who use Pivot Points are intraday traders. I mean Pivot Points can be used mainly for intraday trading.
Pivot Levels are calculated using three types of information from the previous trading day:
- High price
- Low price
- Close price
The reason why pivot points are so enticing? It’s because they are OBJECTIVE.
In many ways, forex pivot points are very similar to Fibonacci levels. Because so many people are looking at those levels, they almost become self-fulfilling.
The major difference between the two is that with Fibonacci, there is still some subjectivity involved in picking Swing Highs and Swing Lows.
With pivot points, forex traders typically use the same method for calculating them.
Many traders keep an eye on these levels and you should too.
ForexWOT Pivot Points Levels Trading Rules
This “Best H1 Forex Pivot Points Levels Trading Strategy Based on MACD, AFL Winner, RSI, and EMA indicator” is trend following forex trading strategy.
- Best Time Frame : 30 min and H1
- Recommended Currency Pairs : GPUSD, EURUSD, USDJPY, … All Major Pairs
MetaTrader Trading Indicators
- Pivot points levels
- AFL Winner
- Sidus indicator
- Sidus bago (5,12, RSI: 21)
- MACD Histo alert ( 14, 28, 9)
- Price Above PIVOT Point Level (green line)
- A BUY position can be taken when appears the Buy arrow of the Sidus bago or Sidus
- At the same time, MACD histo alert indicator bars crossing above the zero line (MACD >0)
- AFL Winners upward green color
- RSI line upward above 50 level
- Price below PIVOT Point Level (green line)
- A SELL position can be taken when appears the Sell arrow of the Sidus bago or Sidus
- At the same time, MACD histo alert indicator bars crossing below the zero line (MACD >0)
- AFL Winners downward red color
- RSI line downward below 50 level
Every trade is basically a business deal. It is essential to weigh the risk and the reward from the deal and decide whether it is worth taking or not.
In Forex trading, you should consider the risk of the trade, as well as the potential reward, and if it’s realistically practical to obtain it according to the surrounding market structure.
To trade more profitably, it is a prudent decision to use stop-loss and take-profit in Forex.