Ya I know. But what I mean is.. since the range from pp to s1 is only 13 pips, chances are it will retrace within 10 pips of pp, so would you enter if it retraced within that area and then hit s1 again?

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So you wouldnt think about shorting the GBP? If it were to hit S1, retrace (s1 to pp is only 13 pips), then hit S1 again?

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Okay cool.

Pivot Point with Money Management Strategy

I was watching the daily from yesterday, the PP is way too far from R1 for me personally. Up to you and what is okay within your equity management range.

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So how many pips from the pp do you consider a good/safe retrace?

Pivot Point with Money Management Strategy

Olaha.. Look at 4 hour pivot.. PP = 1.9955 R1 = 1.9975 R2 = 1.9994 R3 = 2.0014 Price reached R1, retraced back to 1.9956. And now pulling back up, if price reaches R1 again, good time to enter? Range = 39, 2 lots 20/19 ?? Edit: Nevermind, price just ...

Pivot Point with Money Management Strategy

Olaha, question - I was just watching the graphs. Here is what happened... 4 hour pivot = 1.9869 R1 = 1.9901 R2 = 1.9936 R3 = 1.9968 Range = 67 (20/20/20/7) Price hit R1 and then retraced to 1.9877. Then price rallied back up and broke through R1 ...

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Thanks for all the info again today Olaha =)

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Olaha, what charting system do you use? and Oanda is your broker?

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ahh ok, yes i see now. You can see retracement much better.

Pivot Point with Money Management Strategy

hmmm.. so if you are trading 4hr pivot on 15m time frame.. once it hits the R1 /S1 on the 15m time frame, you then go to the 1m charts to watch for retracement? or what?

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Ya, i saw the retracement a few minute ago. but what I was asking is.. How do you know when the retracement is finished? As soon as it tests the R1, then goes down, the moment it comes back up and hits R1 again - thats the end of retracement?

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and even if it did test it 3 hours ago.. it still retraced and went below pivot point..?

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hmm didnt hit it 3 hours ago for my charts, says it went to a high of 1.9859?

Pivot Point with Money Management Strategy

question though, how do you know when retracement to the pivot is over?

Pivot Point with Money Management Strategy

based on 4hr pivot, it just hit R1, retracing back to pivot now? if it retraces and stays above 1.9841 then hits R1 again, enter with SL at pivot = 1.9841. Range from R1- R3 = 36, so 2 lots if equity management allows it. Take first lot at 1.9881, ...

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Why do you say risky?

Pivot Point with Money Management Strategy

Do you ever trade during the US session? or only London session?

Pivot Point with Money Management Strategy

I saw that too =) was thinking the same thing. I hope you are right, cuz that means I would be too. lol

Pivot Point with Money Management Strategy

Do you ever trade the daily pivot? if yes - what time frame do you use?

Pivot Point with Money Management Strategy