6# Pivot and RSI Divergence Trading System

Trading with Divergence

Submit by Forexstrategiesresources

 

Time Frame: 15min, 30min, H1.

Pairs:all.

 

Short Entry: 

1. Identify 
bearish divergence at the pivot point, either R1, R2 or R3 (most commonly at R1). 
2. When price declines back below the reference point (it could be the pivot point R1, R2, R3), initiate a short position with a stop at the recent swing high. 
3. Place a limit (take profit) order at the next level. If you sold at R2, your first target would be R1. In this case, former resistance becomes support and vice versa.

Long Entry:

1. Identify 
bullish divergence at the pivot point, either S1, S2 or S3 (most common at S1). 
2. When price rallies back above the reference point (it could be the pivot point, S1, S2, S3), initiate a long position with a stop at the recent swing low. 


3. Place a limit (take profit) order at the next level (if you bought at S2, your first target would be S1 … former support becomes resistance and vice versa).


 

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Comments: 1
  • #1

    kadn (Monday, 09 September 2019 12:19)

    good

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