Tips On How To Trade Using Traditional Pivot Points

The simplest way to open position without reading any chart is by using traditional pivot point. but of course u still need confirmation from indicator wether the market trend is UP or Down. here are some ways to Trade using pivot points

• For a Bounce scenario 1; take sell position when the market price touch R1, with S1 as Ur firt Target point and stop lost at R2
  
• For a Breakout senario 1; take buy position when the market price touch R1, with R2 as Ur first Target point and stop lost at Pivot
  
• For a Bounce scenario 2; take buy position when the market price touch S1, with R1 as Ur firt Target point and stop lost at S2
  
• For a Breakout senario 2; take sell position when the market price touch S1, with S2 as Ur first Target point and stop lost at Pivot

The Problem is how u know wether it's will be a bounce or breakout. u need to confirm with ur indicator to know this, the trend is UP or down. i'll be adding how to trade using Thomas DeMark's Pivot Point soon. Happy trading :)