IF I were to trade strictly upon your chart, I would buy when you did, but as you can see a max develops, thus creating a new pivot point in 1 bar! so I would sell at the LOW of that max which looks to be at around 1.8860 or so!

RSI Daily Pivot Point System

Not too sure what your question is here, but my response will be that you can have 3 BARS between the PIVOT and today, otherwise, chances are it will be not worth it! And, if you look at the back tests of other currencies(look at first post), it ...

RSI Daily Pivot Point System

The 100 Pip or Min/Max rule should only apply during the beginning of the trade.. After that, you must use the "Magic number" assuming each bar there after will be a pivot... I hope this makes sense, but please let me know if id does not. If you are ...

RSI Daily Pivot Point System

That's what I thought! Good luck this week with your trades Also, my short position was closed in GBP/USD for 200 PIPS profit. So for those of you following I sold at 1.9636 and was stopped out at 1.9436

RSI Daily Pivot Point System

It does not necessarily have to be when the bar closes: Pretend a max develops and the next bar is red, and you don't think it will go above the newly formed max. At this point you could sell if you have reason to believe your max won't be ...

RSI Daily Pivot Point System

Could you elaborate more on where you are getting these numbers? I assume that you are not using my system, as I am looking to buy gbp/usd at around 1.945 or so..

RSI Daily Pivot Point System

Hey, thanks for the answer!! And it makes me happy to see that you've got it RIGHT ON the spot!! I would NOT have traded if that were the high

RSI Daily Pivot Point System

mrSmoothy, Good answer there! You pretty much have it right on the spot.. As far as 4 hr charts, I have tried back testing, but they do not appear as profitable. Again, this is because of false breakouts in ranging markets! BUT if you do some ...

RSI Daily Pivot Point System

I would say so, it was a long time ago when I tested it without, but the system is more prone to false breakouts without it! So I would stick to the RSI, or if you can find a better one, let me know!

RSI Daily Pivot Point System

Ahhh I got ya! An outside bar will be irrelevant unless it creates a new high or low, and so will inside bars. Inside bars, as long as they stay within your pivot points, are meaningless. It's all relative to the last pivot point, and if a new pivot ...

RSI Daily Pivot Point System

Yes, they are using the end of the day RSI, and I'm not quite sure what you mean by inside and outside bars, so please clarify and I believe I should be able to come up with an answer

RSI Daily Pivot Point System

Yes you are right, essentially, one could check their pivots only once per day towards the end of the day(not sure the exact GMT, if someone knows, LET US KNOW) and my system would work. I like to keep an eye on my trades though just to be sure.. ...

RSI Daily Pivot Point System

Alright forex2stay, you and you're great questions... Here is a chart for you and anyone else interested.. It works much like the other one I've posted, but only includes the first 2 trades in my backtest.. Basically, Every red line is a pivot ...

RSI Daily Pivot Point System

No stupid questions here.. I'm not sure I get what you're asking though.. I would tell you that a pivot could happen on any day, monday through friday. You just have to look at the preceding days(whether their high's are trending up, lows are ...

RSI Daily Pivot Point System

Absolutely

Daily Cable Analysis

Still holding on to my short from 1.9636! Will let you guys when i see the long term trend change and exit

Daily Cable Analysis

Interesting Results.. — I have redone the backtest of GBP/USD. Apparently, earlier I thought 6 months was starting in August, but it is in fact July : silly me. I find the results very INTERESTING, and am amazed at how well the system seems ...

RSI Daily Pivot Point System

It looks as though you just got caught in a whipsaw.. No system is perfect. Just shrug it off and get ready for that next trade! Good luck

Bagovino Method

I would say it isn't out of the cards, but 1.920~ is gonna be a tough cookie to bite

Daily Cable Analysis

Today not looking too good on the short side, although long side doesn't look very good either... I expect to see some consolidation in the long term.. A break above 1.9510 might get me in the long, will let you guys know I do think if it goes down ...

Cable Update (GBPUSD)