Pivot Point, Support, Resistant are important parts on Forex trading. Price is respect to these. I always load my Support and Resistant indicator on my chart. On this post, I want to show you how price bounce on Pivot Point line and we how we trade it. By its theory, when price break S&R line, it will continue to move up or down. But sometimes, we can use the bounce of the S&R line to open a trade.
On the chart above, see how price tested the Pivot line twice before it break the line and move down significantly. For a scalper with 10-20 pips profit target, we open a position on a pivot line bounce. Put the stop loss below the line when buy and above the line when sell.
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