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Forex Scalping Pivot Points Strategy
This is another scalping strategy of pivot points that uses pivot levels.
Forex Indicators :
- Stochastic (10,5,5) with 15 and 85 levels;
- RSI (14) rsx (12) with 20 and 80 levels;
- MACD Divergence (just an addon..not necessary);
- Autopivot V.5 ( daily , weekly , monthly ).
The Pivot points show us the daily range which is likely to be filled within the london and ny session.
FOR BUY ENTRY:
- RSX (5 ) must be below 20 area;
- Schaff Trend Cycle ( 100 area) ;
- Price must be above a daily pivot level;
If we have an additional bullish divergence on the MACD window we have a quiet low risk and easy buy.
FOR SHORT ENTRY:
- RSX (5) must be above 80 area;
- Schaff Trend Cycle ( 0 area).
- Price must be below a daily pivot level;
If we have an additional bearish divergence on the MACD window we have a quiet low risk and easy buy.
Profit targets must be on the next pivot levels.
Stop loss above or below next pivot level +5-7 pips in addition.
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