MY EXPERIMENTAL TECHNIQUE - WEEKLY PIVOT POINT (PART 2)

Last week we tried this technique and it was really successful. 120pips on 1st day! wow!

But before I'll use this technique on my live account, I want to test for 2-3 week before I can make a conclusion. So far from what I concerned was, when the price touch weekly pivot from below..we should consider bullish, and when price touch weekly pivot from top..we should consider bearish for that week.

How to calculate pivot point?

Pivot point (PP) = (High + Low + Close) / 3

Take for instance the following GBP/USD information from the previous session:

Open: 1.4842
High: 1.4952
Low: 1.4577
Close: 1.4674

The PP would be,
PP = (1.4952 + 1.4577 + 1.4674) / 3 = 1.4734

1.4734 is last week pivot point...we shall calculate new pivot point tomorrow :)

Note :
1)You can calculate to any forex pair, not only GBP/USD
2)On Monday try to put buy stop(bs)/sell stop(ss) order around 50pip from open price..and put take profit (tp) 15-20 pips below/above weekly pivot point. Sometimes price going to opposite direction and the highest/lowest price of the day should be our order for this technique to maximise profit!

You should try this technique!