The weekly pivots, was the high(r1) and the low(s1) for the past week on the U.S. Dollar. The Euro also went from weekly s1 pivot to the weekly P pivot last week. Weekly pivots give short term swing traders a BIG edge, by defining the weeks trading range.
Trading is a visual game. Buy support and sell resistance. In my 17 years as a trader, I've learned where support and resistance using a combination of MPG. I take Pivot Point analysis to a another level. Join my new Pivotalpivots.com Alert service. Follow me on Twitter @mpgtrader. Or click on the MPG Trading link below, and join myself and other MPG Traders live(during market hours).
1) Protect your capital 2) see rule #1 3) don't trade what you think, just trade what the charts say 4) use stops on all orders 5) never let a winner turn into a loser 6) never buy R2 7) never short S2 8) 3 losing trades in a row= strike 3.......shut down the computer for the day. Something is wrong in my head!
Investing and Trading involves significant financial risk and is not suitable for everyone. This blog should not be considered as financial or trading advice. All information is intended for Entertaiment Purposes Only.