Fulcrums are natural points of confluence “Magnets”. Professional traders and market makers use pivot points to identify important support and resista...
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Accolades for Todd Hanson Ph.D.
Fulcrums: Fixed Fixe d price points that act like magnets
Fulcrums What is a Fulcrum? •
The support about which a lever turns
•
Statistically to be points of inflexion
To fine tune our trading plan—in volatile, liquid instruments we add the Fulcrum grid: •
00: aka “the figure” fulcrum
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20: - pips over “the figure”
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50: aka “half the figure” fulcrum
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80: - pips over “the figure”
Fulcrum Examples EURUSD
EURJPY
1.4000
134.00
1.4020
134.20
1.4050
134.50
1.4080
134.80
1.4100
135.00
Fulcrum Examples
Fulcrums Natura Natu rall Suppo Support rt and Resi Resist stance ance
Making Use of Fulcrums Fulcrums are natural points of confluence “Magnets” •
Prices gravitate from fulcrum to fulcrum so entering At or Near a fulcrum is key •
When entering the trade, look for the opportunity where the pair exhausts itself on a retracement to the last passed fulcrum
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When possible, avoid entering trades that are at midpoints between fulcrums
•
Fulcrum Ke Key y Fulcrums
“Midpoint Danger Area”
00 90 80 65 50 35 20 10 00
You are allowed allowed +/- 3 PIPS from the Fulcrums
Pivot Points: Calculated Support and Resis Resistance; tance; We all see them because we all use them
Forex Pivot Points •
•
Professional traders and market makers use pivot points to identify important support and resistance levels.
Simply put, a pivot point and its support/resistance levels are areas at which the direction of price movement can possibly change.
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BEGINNING OF TRADING TR ADING DA DAY Y WORK SHEET
DATE:
Important News : Let’s see if there are any important news that happen for the past few hours:
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Important Economic Indicators/numbers for today
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Key Supports/ Resistance Levels/ pivot Use calculator and 5pm (NYC) prior day close Resistance 3 = High + 2*(Pivot - Low) Resistance 2 = Pivot + (R1 - S1) Resistance 1 = 2 * Pivot - Low Pivot Point = ( High + Close + Low )/3 Support Support 1 = 2 * Pivot Pivot - High Support Support 2 = Pivot Pivot - (R1 - S1) Support Support 3 = Low - 2*(High 2*(High - Pivot) Pivot) S3 EURUSD
GBPUSD
EURJPY
USDJPY
S2
S1
Pivot
R1
R2
R3
Forex Pivot Point Trading Tips Here are some easy to memorize tips that will help you to make smart pivot points trading decisions. •
If price at PP, watch for a move back to R1 or S1.
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If price is at R1, expect a move to R2 or back towards PP.
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If price is at S1, expect a move to S2 or back towards PP.
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If price is at R2, expect a move to R3 or back towards R1.
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If price is at S2, expect a move to S3 or back towards S1.
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•
•
•
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If there is no significant news to influence the market, price will usually move from P to S1 or R1. If there is significant news to influence the market price may go straight through R1 or S1 and reach R2 or S2 and even R3 or S3. R3 and S3 are a good indication for the maximum range for extremely volatile days but can be exceeded occasionally. Pivot lines work well in sideways markets as prices will most likely range between the R1 and S1 lines. In a strong trend, price will blow through a pivot line and keep going
Forex Pivot Point Trading Tips
S1
R1
S2 R2
S3
R3
Forex Pivot Point Trading Tips
DAILY PIVOT
P R I C E R A N G E
Confluence: Where two, three, the more the better, of the Hanson puzzle pieces come together
Market Confluence Confluence – Noun 1. a place where rivers flow into one another 2. a gathering [Latin confluere to flow together]
Points of Confluence Points of Confluences that we look for include: –
Moving Averages
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Support and Resistance on the chart
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Fulcrums
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Previous High/Low Points
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Breakdown & Retest levels
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Pivot Points
False Confluence Traders often imagine false confluence as a result of the following pitfalls: –
