GPB Daily FloorPivots (midnight EST.)
Floor Traders Formula:
PP = (H+L+C) / 3
R1 = 2(PP – L)
S1 = 2(PP – H)
R2 = PP + H – L
S2 = PP – H – L
R3 = PP + 2(H – L)
S3 = PP – 2(H – L)
R4 = PP + 3(H – L)
S4 = PP – 3(H – L)
You are to take these prices and horizontally plot them on the hour chart on your trading platform. When price touches any of the PPs or mid-ranges, expect a reaction on that support/resistance. If price blows through, look for it to touch the next level or retrace/test/reverse. The first 12 hrs. of the London open is the pound's most volatile time period. It moves 96 – 150 pips daily during this window. Use the pivots with any other indicator(s) you use to give you entry/exit points and stop levels. I hope this will help you prosper. If it does, freely help someone else prosper by giving away information or something you possess. Post your winning trades and tell us how you did it. Tell us about your losing trades and let us know what happened. Good luck & God bless.
R4: 1.9834
MR8: 1.9793
R3: 1.9751
MR7: 1.9710
R2: 1.9668
MR6: 1.9643
R1: 1.9618
MR5: 1.9602
PP: 1.9585
MR4: 1.9560
S1: 1.9535
MR3: 1.9519
S2: 1.9502
MR2: 1.9461
S3: 1.9419
MR1: 1.9378
S4: 1.9336
Next Post Midnight EST.