FT Pivot Point Trading Strategy

For a detailed guideline and explanation of the FT Pivot Point Trading Strategy please refer to the article on this link http://www.investopedia.com/articles/forex/05/FXpivots.asp

However, for our intraday trading purpose, we would only utilize the FT Pivot Point, R1 and S1.

We use the FT Pivot Point in determining the Bull/Bear Market Bias for the day. Generally, if price opens above the Pivot Point, we want to be on the Buy side of the market, and if price opens below the Pivot, we would want to be on the short side of the market.

Depending on the "Type of day", and as long as it is not a trending one directional day, R1 and S1 +/- our "proprietary" breakout level will be our trade exit and reversal point.

** The Open will determine our "Type of day"