Pivots And PAST Working Together - 24-May-16

Pivots And PAST Working Together – 24-May-16

In the Pivot Points Trading Strategy update a few days ago I looked at how “ZONES” usually play a role in my pivots trading.  I provided details on how I use “ZONES” to identify Higher Probability Pivot Points Strategy trade set ups.

In this update I just wanted to follow on from that with a live example of how you can also use the PAST strategy for these “ZONES” too.

Here is a current live GBPUSD trade which, as I write, I have no idea of the outcome.

Pivots And PAST Working Together - 24-May-16 Chart

Here I have a nice ZONE and in my opinion a Higher Probability Pivot Points Strategy trade set up.

  • We have the R2 Level itself 1.4598.
  • We have the Big Round Number (1.4600).
  • For those who like Oscilators, we have the RSI(14) in Overbought territory.
  • AND, we have a Price Action Swing Trading (PAST) Strategy Long Wick Reversal.

Remember, the Pivots strategy on it’s own “as is” is a profitable strategy.  But, looking for this additional “strength” in individual trades, rather than trading the strategy “as is” makes it even more profitable.

Important: Regardless of the outcome of this trade, this is a great setup – Nobody can have any reason at all for questioning their taking this trade – Most likely, as I did on close of that Long Wick Reversal Candle.

It is when you start to learn to trade like this that you will realise how far you have progressed.  And, you will have no need for trading journals or micro analysing individual trades.

Your long term monthly returns should be evidence enough.

Hope it helps.

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This update is based on my analysis on my charting package. It may differ to yours as it can be affected by time, market movements, charting packages and broker prices. I accept no liability for loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on any information in this report or analysis.