Fox Forex Pivot Points Strategy
This is an intraday trading system and it is based on the fast movement on the pivot dynamic levels (Fox Pivot Indicator).
This works best on a 1 hour timeframe and applicable to major currency pairs and indices.
Forex Indicators:
- yellow line ( pivot level)
- 1° blue line r1 (resistance level)
- 2° blue line r2
- 3° blue line r3
- 1° red line s1 (support level)
- 2° blue line s2
- 3° blue line s3
Long Entry:
- Place 1 pending 2 pips above r1 (target r2 or 18 pips stop loss pivot line yellow).
- Place 1 pending order 2 pips above r2 (target r3 or 18 pips stop loss s1).
Short Entry:
- Place 1 pending 2 pips below s1 (target s2 or 18 pips stop loss pivot line yellow).
- Place a pending order 2 pips below s2 (target s3 or 18 pips stop loss s1).
Rules for Reversal Entry:
Short Entry:
- Wait for the price retraces from area r2 and r1.
- Place a pending sell order on the pivot line (target s1 or 18 pips stop loss r1).
Long Entry:
- Wait for the price retraces from area s2 and s1.
- Place a pending buy order on the pivot line (target r1 or 18 pips stop loss s1).
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