Posted by millionaire | Sunday, July 01, 2007 | | 0 comments »

Makes money with forex

Is it easy,hee...i guess some of you just wasting your money..maybe me too..hahah
erm,I want to share something about trading base on pivot range.I'm like a simple,nor a various indicator in my chart,its makes horror,the more i put,the worse i got..huhu..I think everyone knows about pivot trading.It's simple and easy,i dont want to talk much about pivot,so we continue with pivot range rite,more fun and profitable,easy to learn and i think newbie could understanding it easily,the pivot range really works with me...hee

The rules is simple,4eg,we look at pair gbp/usd weekly


  1. first,calculate pivot value,high+low+close/3=pivot,refer candle 24/6/2007,so 2.0084+1.9928+2.0080/3=2.0030
  2. Then count a second value,the formula is high+low/2=2nd value,so 2.0084+1.9928/2=2.0006
  3. Ok now count different each others,2.0030-2.0006=0.0024
  4. Last we could count pivot range,just (-+) a pivot with the differ value,2.0030-0.0024=2.0006 dan 2.0030+0.0024=2.0054..

The conclusion from the calculation above i got the weekly pivot range for gbp/usd is 2. 0006 to 2.0054,means market bias up when price trading above the pivot range,and bias down istead of that.The pivot range not suitable for weekly only,you could do with what you prefer,even daily range,3days range,monthly or 60days.There are so many style trading with pivot,i will post more soon.Knowledge about candlestick give u more sensible about market,more accuracy when u combine candslestick pattern,pivot,suport and ressitant..

My strategy for gbp/usd this week

Buy limit 2.0064,sl 2.0006 take profit =2.0205 or trailing after gain 75pips.




0 comments