Pip Swing Forex Pivot Point Strategy

This strategy works on higher timeframe such as daily and Weekly Chart.

Forex Indicators:

• Moving Average 13, 26 and 52.
• MACD (12,26,9)
• Stochastic 5,3,3.

For Daily:

• Moving Average 10, 49, 89 and 144.
• Pips weekly pivot and GRBB indicator.

Long Entry:

• Both the weekly and daily chart must indicate the same major up trend.
• The current pips weekly pivot must act as a support.
• The GBRR indicator must indicate a bullish (tick green) momentum.
• Enter on the third GRBB bullish bar by using the previous day’s high as the price for a buy stop order.
• During the first week of the trade, the recommended stop loss is placed atr 50-890 pips below the )price, while the initial target profit is 500 pips above the entry price. (For GBP/USD and EUR/JPY, the initial target profit is 500 pips.)
• The stop los and the protective stop orders are remain there until the beginning of the second week.

Short Entry:

• Both the weekly and daily chart must indicate the same major down trend.
• The current pips weekly pivot must act as a resistance.
• The GBRR indicator must indicate a bearish momentum.
• Enter on the third GRBB bearish bar by using the previous day’s low as the price for a buy stop order.
• During the first week of the trade, the recommended stop loss is placed atr 50-890 pips abowe the price, while the initial target profit is 500 pips above the entry price. (For GBP/USD and EUR/JPY, the initial target profit is 500 pips.)
• The stop loss and the protective stop orders are remain there until the beginning of the second week.

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