27# Pivot points levels with the blade oscillator
Pivot points trading
Submit by Mike Trader 31/01/2014
Pivot points levels with the blade oscillator is a price action momentum forex strategy.
Trading Rules
Currency pairs: Aud/Usd, Eur/Usd, Gbp/Usd, Usd/Jpy.
Timeframe: H1.
Blade oscillator.
Buy Signal
1. For a Buy signal, we need to have Moving Average (orange) closed above
the line of the Blade level indicator and the Trend Oscillator should be blue.
2. If the two conditions coincide then enter the market
3. For EUR / USD pair the recommended settings are:
TakeProfit 50 pips, initial stop loss 40 pips after 40 pips in gain move stop loss at the entry point.
Exit
Exit when the trend oscillator closes below the 0 level! Even if you have a profit
during a trade, you should still get out of the market if you see this signal!
Stop Loss is needed for emergencies, when the market suddenly changes its
direction.
Once you take a profit ignore the existing line and wait until you get a new Pivot point level line.
Sell Signal
1. For a Sell signal, we need to have Moving Average (orange) closed below
the line of the Fibo pivot level indicator and the Trend Oscillator should be blue.
2. If the two conditions coincide then enter the market
3. For EUR / USD pair the recommended settings are:
TakeProfit 50 pips, initial stop loss 40 pips after 40 pips in gain move stop loss at the entry point.
Exit
Exit when the trend oscillator closes above the 0 level! Even if you have a profit
during a trade, you should still get out of the market if you see this signal!
Stop Loss is needed for emergencies, when the market suddenly changes its
direction.
Once you take a profit ignore the existing line and wait until you get a new Pivot point
level line.
Money Management for this pivot trading strategy
For deposits from $50 (better from $100) – 0.01 lot.
For deposits from $200 – 0.02 lot.
For deposits from $300 – 0.03 lot.
For deposits from $550 – 0.04 lot or 0.05 lot.
For deposits from $650 – 0.06 lot.
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