All of these trades yielded: I use 15minute timeframe because it allows catching the best entry and exits opportunities.

Each morning I start by calculating fresh pivots from midnight to midnight. I study price behavior in the first 7hours of the day.

Initial Early Morning Channel- IEMC o Check my Forex news calendar forexfactory for upcoming news o Place predictive trades using pending order and occasionally market order depending upon price behaviour between new day break and 7amGMT.

The answer to this provides the first clue to traders biases for the day. Price may pullback to PP later in the day.

Now can you put price in a range, a channel IEMC?

I found out this range could persist and could be traded. Initial Early Morning Channel Strategy. Price behaviour between new day break and 7amGMT see attachment.

The above chart is a EURUSD 15 minute chart illustrating how price behaved from daybreak to 7amGMT on the Wednesday 21st July The vertical aqua line represents 7amGMT, i. Can you see price behaviour between these times? Price is in a channel of 34pips purple to purple. This is my Initial Early Morning Channel.

I will illustrate how I trade such channels under my Initial Early Morning Channel strategy in one of my variations. Can you now predict with some certainty the direction of price from here?

I have a variation1A case when ,as in chart 1.

Forex Pivot Points, Live Update - Accurate, Reliable, Free and Best, Hourly, 4 Hour, Daily, Weekly, Monthly - Action Forex

Initial Early Morning Channel strategy B. Pivot level strategy C. This is how it all happened: This system has so many variations depending upon price behaviour from break of new day. Thisn is just one variation. I am doing something similar.

This type of strategy requires a lot of work and dedication, which will probably turn most people off. Most you develop it, you can apply it to any pair. I have been using the USDJPY. Once you get a feel for the price action, you can really zone in and take the pips. I trade in similar manners, however I use Weekly Pivot points instead, 50 and SMA, RSI 14 and Stochastic 39,3,3.

One thing I found is that, WP is the strongest pivotal column which my RSI and Stochastic seem to react the most. I don't trade breakouts, I only trade bounces. Though your system seems worth checking, however I would suggest you apply a Pivot Point Indicator which draws the lines automatically, so you don't have to calculate them manually and lose time.

Could you pls send me your auto pivot point calculator? I will be glad if you did. Maybe if you search using the search tool you can find a Pivot Point plotter. There dozens of them. Find below the trades that fetched the pips in one day, under 5hours!!! Price Behavior Analysis for Variation 1b - Bullish Sentiment PRICE BEHAVIOUR ANALYSIS FOR VARIATION 1B - BULLISH SENTIMENT. Sell limit upper channel closing lower channel for 27pips Buy limit lower channel closing upper channel for 27pips Buy limit lower channel closing 2nd resistance for 60pips Buy stop upper channel closing 2nd resistance for 33pips Buy stop 1st resistance closing 2nd resistance for 26pips.

Price Behaviour Analysis For Variation 1b - Bullish Sentiment pips-Bullish mkt GBPUSD 15M. I got one over last week. This one happens to be a combination of pivot and Fibonacci levels. Very powerful Indicator It helped me with my trades last Friday: I'm happy to hear that atomoore. I hope it always goes this way. My goal for this week is only pips to complete my May's goal of pips: I seriously need that your indicator.

Eric, does it mean you place trades on the weekly charts? I love your target settings. I'll mail you my own. Oh , I think you already have it: Entry settings, Exit setttings, TFs, which pairs, which broker, which market; tokyo? Do you trade everyday? Anyway, I jealous your pips.

Eric, my system is one of hedging. I initially did not use SL.

Ichimoku + Pivot Point Trading Strategy

I'm considering using it. Now that I'm gradually refining my system. But , anyways, the hedging strategy will always contain my losing positions.

Seriously reseaching into the mathematics. Do you have any material on that? Cos' I know you can actually hedge without placing stop loss and you'll do good: Eric, my strategy is basically a hedging strategy. Whenever I go short or long, I have a reverse trade in the appropriate direction.

This way, my risk is contained. So no I don't use SL but Hedging does the job SL will do. Besides, I monitor my trades quite often. Igive it all my attention. However, I'm working around the mathematics of Hedging my strategy. When this is done. I wouldn't have to worry about Placing SL nor monitoring my trades , once placed. Anyway,have you got any material on the mathematics of hedging?

Like how to play around your Lotsizes whilst going both Long and Short on the same ccy pair at the same time? Please keep me posted. Actually atomoore, I don't really use hedging strategies. They're good but they require good large amount of equity margin. Not to mention other pairs, but I think he got around 80, pips or so just last week when he decided to close all his positions.

The real bummer here is that, he had to leave open deals for 16 months! Losing deals for that matter! But the really harsh bummer here is SWAP! Lol - but he overcame this problem by opening an Islamic Account SWAP FREE Account: D, sun of the gun ain't it. Currently though, this weekly pivot point system is doing very good. Though I think that with some extra tweaks it could be a superb kicker. Just one thing that I really find very interesting about my set of strategies is that I never focus on just pairs, I trade all them!

Instead of trying to catch pips from one pair, my logic tells me that it's easier to catch 10 pips from 20 pairs. Basic idea, but very powerful. I'll attach a pdf file just to show you what I mean. Just to note, my real concern is WEEKLY or MONTHLY average, that's what really matters after all. I don't care if one pair only gave pips in 1 year.

Not really, but if you compare all the advantages of this job: Anyway, just take a look at my logic in practice. Sorry but I just couldn't upload, I'll try to send it via email. I would tend to agree with you on the trading all 28 pairs but how do you monitor it all at the same time, also why do you not automate it? That's a good question flapper. I have a joint account. We're actually 3 people trading from the same account, so that everybody has it's own pairs, and everybody has to make weekly reports describing their pairs' behavior and forecasting their suitability for the upcoming week.

As I mentioned we have a composite strategy based on certain set of systems that we use. Some of the systems are very mechanic straight forward like news trading, basic breakout strategies, weekly pivot point strategy which I will describe , some range bound bounces and breakouts, trend trading, fundamental trading and I'm thinking of adding a simple scalping strategy not developed yet.

Each one of us has it's own duties and it's own expertise that we each give our thoughts about specific pairs and plot them on our weekly trading portfolio.

So basically there is no CONSTANT trading rule. If it's undetermined, crazy as we are, we filter it to the mechanical systems. EVERY PAIR MUST BE TRADED.

Fair enough, now you must be wondering WHERE'S THE MONEY! So let me tell you that I can only describe you my own strategy which falls into my expertise area. As for the others that my partners use, sorry. Maybe I'll persuade them to share it with you in this forum which I really love.

Bare in mind that, what I am about to tell you may sound very crazy. In which case I don't really care, if it works for you fine, if it doesn't Well I'm sure you'll figure it out something else: That's all you need not other indicators.

Sunday evening when Sydney opens my broker opens the trading platform at: If the price opens under the WPP Weekly Pivot Point. If the price opens above the WPP. Now you can try it this on your own and see what results are you going to get. Bare in mind that, this is not suitable for small accounts.

My biggest drawdown was: My largest up streak was: And the reason why I'm not using any EA's flapper, is that I really love this job. But if you could develop and EA trading this strategy, be my guest. I hope you remain happy with it. Now That's a concise well written answer Thanks very much indeed, i will try and put this into action and report back to you, we are also 3 people and are trying to get a system together so we can scale back on our day jobs, we are all from an IT background so an automated solution is what we are hoping for.

So far we have written a few Strategies in easy language for tradstation which back test lovely but are rubbish when you put them into a live account, but we live in hope: If you've seen the movie the Shawshank Redemption, there is a scene where Morgan Freeman reads a letter which I'll quote: Hope is a good thing my friend. Hello, I've been following this thread, because I find it very interesting although I don't understand all of it. Are there any news on how this strategy performed in June or any other update?

Hello, thank you so much for clear description. Weekly Pivot Point is 1. Stop Loss was open. I have few more questions if you can please answer me. Since I already made one trade on this currency, do I wait for next week to come to calculate this week's WPP and do a trade next week?

Why I am asking is if you are averaging pips a month and I got 60 pips from one trade, do you trade pairs a week? Now has price pulled back to PP? How big is the range? Can you put a channel on it? Do you use any? I'd be happy to help you. Looking forward to your reply. Free Forex Trading Systems. Gig System Trade Setup: Initial Early Morning Channel Strategy o Has price zigzagged along PP?

Price behaviour between new day break and 7amGMT see attachment The above chart is a EURUSD 15 minute chart illustrating how price behaved from daybreak to 7amGMT on the Wednesday 21st July VARIATION 1A I have a variation1A case when ,as in chart 1. If a new day passes as a candidate for variation1A, I trade the following strategies: Initial Early Morning Channel strategy lowerBand of Channel: Pivot level strategy 5 Sell Limit: Hope I get good critics. Keep up your posts and results, I would like to check them out.

VARIATION 1B pips on GBPUSD in one day, under 5hours!!! DO IT IN YOUR HOME DO IT WHENEVER YOU WANT RISK AS MANY AS YOU WANT NO BOSS!!!

Strategy 1 The easiest and simpliest First thing: Anyways, I hope I didn't confuse you guys. Hi Eric Now That's a concise well written answer Thanks very much indeed, i will try and put this into action and report back to you, we are also 3 people and are trying to get a system together so we can scale back on our day jobs, we are all from an IT background so an automated solution is what we are hoping for. Thanks and good luck to you also.

Anything more you can suggest me please? I've been working with zig zag for a while and its the best indicator..