Market picture eurusd

Published on Tuesday April 13th, 2010 at 03:38AM by FXViking

Yesterday it looked like we were starting an uptrende, we are now going sideways.Since we ar still below the daily pivot - 1.3616 my bias is down.But if the pivot is broken my bias will change to going long.I will take it easy and wait for the pivot to be confirmed as resistance or the pivot to be broken befor taking a trade.

  • 2 comments
  • Go to virgiliolayug's profile

    On Tuesday April 13th, 2010 at 04:41AM by virgiliolayug -

    Hey Petter,I have a question on how you use pivot points. Do you have a bias towards long trades if price is above the pivot? And vice versa if it is below?I actually just look at PPs for scalp / day trades. I look for bounces from those levels, especially if they line up with former S|R levels.
  • Go to FXViking's profile

    On Tuesday April 13th, 2010 at 04:48AM by FXViking -

    Yes, that is correct. I am going back to trading PP since I have been quite successfull with that.I have tested other system but I always end up loosing money.Good luch with your trading.

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