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Taking Advantage of the Pivot Point | BinaryOptions.net

SystemSystem Posts: 164 admin
edited July 2013 in General
imageTaking Advantage of the Pivot Point | BinaryOptions.net


I started watching the USD/CHF right after 1:30AM EST and price was hovering just below the pivot level of 0.94204 (purple line). Of course, with price under that level that would suggest that the pivot could provide an area for put options, with the expectation that price would come up, bounce off, and continue lower.

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Comments

  • vulpinevulpine Posts: 4
    edited July 2013
    Hi Mifune. I follow your posts all the time and study your entries pretty close. I had a question concerning your Pivots. Do you use Pivots based on GMT or New York close? Thank you.
  • mifunemifune Posts: 160 ✭✭
    vulpine said:

    Hi Mifune. I follow your posts all the time and study your entries pretty close. I had a question concerning your Pivots. Do you use Pivots based on GMT or New York close? Thank you.

    Hi vulpine,

    My pivots are based on New York close, as I feel these are the most effective in my experience. I have my price charts set to EST. If you are using MetaTrader as your trading software, I would encourage you to find a broker that uses the New York close to plot your pivots. I believe FXDD does so, although I'm not entirely certain.

    If you use ThinkOrSwim like I do, and would like the indicator code, just let me know, and I will post it.

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