UnknownUnicorn510593

Average Daily Pivot Currency Strength Trend Trading

FX:EURUSD   Euro / U.S. Dollar
This idea uses Chris Moody avergae daily pivots, my currency strength indicator (either CSM or CSMZ with a suitable period), and maybe a moving average of a suitable period (either SMA or EMA). The trade signal is a pivot reversal consisting of a "day 2" pivot lower than "day 1" pivot and "current day" pivot lower than "day 1" pivot suggesting a reversal of an up trend. The reversal is confirmed by a cross of the currency strength indicator just prior to or when the pivots reverse. Vice versa for a down trend reversal. The pivot reversal forms the basis of my pivot strategies which also use a moving average (with price being above or below), to filter out bad trades.
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