Saturday, 28 August 2010

Technical - Pivot Point Indicator

PP = Central pivot point
M4 = Middle of R2 & R1
M3 = Middle of PP & R1
M2 = Middle of PP & S1
M1 = Middle of S2 & S1

Uptrend
- Profit Target = (Middle of R2 & R1) to R2
- Bottom = (Middle of PP & S1) to PP
Downtrend
- Profit Target = (Middle of S2 & S1) to S2
- Top = (Middle of PP & R1) to PP

Reversal & breakouts tend to occur when london session open/close

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