Simple Trading Strategy (pivot point, support and resistance) [1000068890 - abud1980]

abud1980

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Before taking any order I follow the criteria in any currency pair.
- Support point (Daily and weekly)
- Resistance Point (Daily and weekly)
- pivot point


 
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abud1980

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Pivot Point:
A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames. The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.

Pivot point calculated based on the high, low, and closing prices of previous trading sessions, and they're used to predict support and resistance levels in the current or upcoming session.
 

abud1980

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Support:
Support occurs where a downtrend is expected to pause, due to a concentration of demand.

Resistance:
Resistance occurs where an uptrend is expected to pause temporarily, due to a concentration of supply.
 

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Nataly

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@abud1980 , No activity.

  • You should follow rules of chosen trading strategy, explaining the reasons for your trades open or close, attaching chart screens with trades and annotations for clear understanding by readers.
  • You should keep an activity in your Journal and leave messages at least once within three days. In the contrary case bonus will be canceled.
 

abud1980

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I placed a sell entry aud/jpy pair and now faces loss more than 100 pips. This pair already crossed the major resistance level.
75.59, 75.90 and 76.18 already crossed and next target 76.50. If touches 76.50 then must fall and again back in 75.59. And this pair creates a big sell opportunity in next future.
And in my sense, patience is only way only recovering the loss.
 

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abud1980

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AUD/JPY fact:
In aud/jpy, major resistance level 76.48 and this pair already touched this point. And now this pair stay on 76.27, this is the another resistance point. As aud and jpy be strong that reason this pair is now bullish trend follows. As aud/jpy touches many times in 76.48 and 76.27 but not crosses these point, so possibility of sell if aud or jpy be weak.

My order already losses $35 with swap.
 

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abud1980

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My previous aud/jpy sell entry closed by $7 loss. And now taking a big order in nzd/jpy.
Last Friday jpy related pair fall 100 pips. Also nzd/jpy falls 100 more pips in Friday and now this pair stay major support level 71.83. My placing order point is 72.20 and my target 72.40.
If market fall from 71.83 then again fall at least 40-50 in this week. Otherwise, this pair again up and touches 71.57.
 

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abud1980

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Today nzd/jpy analysis:
Based on support and resistance I placed a sell order at nzd/jpy pair. Yesterday nzd/jpy falls 90 pips then up it more than 90 pips ans now stay on resistance level 72.63.
If crosses this 72.63 then next target 72.87. Otherwise, again fall into 72.39 at first then 72.11.
 

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abud1980

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Another resistance point touching the nzd/jpy @ 73.00. Before 72.63 and 72.87 resistance point crossed. If today this pair crossed 73.00 then it goes up trend. Alternatively, if stay below the 72.63 then again fall and touch the 72.00.
Though today negative nzd news published but not continue the strongness that reason up trend continues.
My running entry carries -$11 and swap -$0.57.
 

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abud1980

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I closed my nzd/jpy entry in loss.
Now, take a buy order in USD/CHF based on support & resistance zone. This pair now stay in support zone and my target 97.05.
Another order take in GBP/USD pair based on economic clander or news. After 30 minutes high impact news will publish and gbp related pair will be affected
 

abud1980

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Closed my usd/chf buy order at loss and taking a new sell order in nzd/usd pair.
Now, nzd/usd pair at 66.42. Yesterday maximum goes up at 66.64 and today again back in 66.42. That means 66.64 is the major resistance point and try to break 66.42 and touches 66.64 again or more.
If this pair breaks the 66.42 point then fall and touches 66.00. Otherwise, again up and touches 66.64 then 67.00.
 

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abud1980

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Now I opened an order in aud/jpy. Placing buy order based on RSI (1 hour) timeframe. RSI 1 hour timeframe shows this pair (75.58) stay below 30% and try to up. I hold this order in next 4-5 hours and after that close it because tomorrow high voltage news will publish in jpy.
 

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abud1980

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After 5 hours I closed my aud/jpy buy order. Now, I taking a sell order in nzd/jpy based on Support and resistance level. 72.80 is the pivot point. I see last couple of days this pair try breaks this point and goes up 40-50 and again back in the pivot point area. And RSI weekly timeframe indicates that this pair now the sell pressure from the pivot point.
 

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abud1980

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USD/CAD:
Yesterday important news released in cad and usd/cad pair now in strong up position.

1.3150 is the pivot point and this pair already crossed and touched the minor resistance level, if it breaks then will touch 1.3177 and 1.3198.
I took a sell order because market already in overbought position, possible to touch 1.3177 then fall and again back to 1.3136 and 1.3113.
 

abud1980

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Now nzd/jpy stay pivot point (71.33) area. Last 2 days this pair follows down trend. Today morning jpy related pair tries to up. If today this pair breaks the pivot point then chances to up and will touch 71.55 then 71.75 and then 72.00. Other hand, if continues the fall mode then will touch 71.10, then 70.90.
My running trade carries 12.48 loss yet. My target 72.00..

Attachment: nzd/jpy pair support, resistance and pivot point (29/01/2020)
 

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abud1980

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NZD/JPY:
See the below attachment in which today's( 4th Feb) pivot point, support and resistance shows. Now, nzd/jpy stay above the pivot point based on daily pivot point timeframe. If the nzd/jpy pair crosses the 70.20 area strongly then possible to buy more ( 70.66, 70.80, 71.10). But remember that tomorrow very important news will publish in nzd and this news will determine the next destination of nzd. If positive data release in nzd then possible to buy otherwise again fall continue.
 

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abud1980

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My running trade carrying loss $38 now....

See the below attachment in which pivot point, support and resistance of nzd/jpy mention.
Now nzd/jpy in 70.36 and it is the 4 hours pivot point. If breaks this point and up then next target will 70.42 and 70.53. And 70.53 is the daily pivot point. If breaks the 70.53 then next target resistance point 70.85, 71.43, 71.75 respectively.
Alternatively, if breaks 70.36 and fall then next target will 70.24, 70.16, 69.95 and 69.63 support point respectively.
 

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abud1980

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Now nzd/jpy stay on 70.61 and this is the pivot point based on h1 and h4 timeframe. Last Friday nzd/jpy moves on 70.51 to 70.78. As nzd/jpy moves on the pivot point area that reason no clear picture of movement for buy or sell. Next Monday jpy news will publish, after that strong then next target 70.83 and this is the daily pivot point. If cross the 70.83 successfully then next destination 71.30.
 

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abud1980

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I closed my previous trade in loss and my loss is now $39, try to recover my loss at first.
I took a order in xau/usd pair based on RSI h4 and daily timeframe. RSI h4 indicates xau/usd is now overbought position, so possibility to sell. RSI daily chart shows this pair stay on 70% position, so possible to sell as my opinion.

See the h4 and daily figure for better understanding...
 

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