Daily Pivot Points

	S3	S2	S1	P	R1	R2	R3
EUR/USD	1.3288	1.3411	1.3476	1.3599	1.3664	1.3787	1.3852
USD/JPY	93.21	94.16	94.77	95.73	96.33	97.29	97.89
GBP/USD	1.4769	1.4927	1.5015	1.5173	1.5261	1.5419	1.5507
GBP/JPY	138.40	141.14	142.59	145.33	146.78	149.52	150.97

Weekly Pivot Points

	S3	S2	S1	P	R1	R2	R3
EUR/USD	1.2902	1.3057	1.3345	1.3500	1.3788	1.3943	1.4231
USD/JPY	96.02	96.97	97.85	98.80	99.68	100.63	101.51
GBP/USD	1.4549	1.4691	1.4952	1.5094	1.5355	1.5497	1.5758
GBP/JPY	143.87	145.41	147.80	149.34	151.74	153.27	155.67

Monthly Pivot Points

	S3	S2	S1	P	R1	R2	R3
EUR/USD	1.2195	1.2540	1.2892	1.3237	1.3589	1.3934	1.4286
USD/JPY	90.03	92.82	95.85	98.64	101.67	104.46	107.49
GBP/USD	1.3566	1.3919	1.4360	1.4713	1.5154	1.5507	1.5948
GBP/JPY	127.25	133.12	139.75	145.62	152.25	158.12	164.75

Note:

Pivot points are very useful tools that use the previous bars' highs, lows and closings to project support and resistance levels for future bars. Daily pivot points are useful for swing trading. Longer term pivot points provide an idea of where key support and resistance levels should be. Place the pivot points on your charts and see how traders appear to give pivot point levels a lot of respect. Daily pivots are calculated from previous day's high, low, close which ends at 24.00 GMT.

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Daily Pivot Points

	S3	S2	S1	P	R1	R2	R3
EUR/USD	1.3447	1.3505	1.3590	1.3648	1.3733	1.3791	1.3876
USD/JPY	93.69	94.83	95.53	96.68	97.38	98.52	99.22
GBP/USD	1.4844	1.4958	1.5123	1.5237	1.5402	1.5516	1.5681
GBP/JPY	142.63	144.46	145.80	147.63	148.97	150.80	152.14

Weekly Pivot Points

	S3	S2	S1	P	R1	R2	R3
EUR/USD	1.2902	1.3057	1.3345	1.3500	1.3788	1.3943	1.4231
USD/JPY	96.02	96.97	97.85	98.80	99.68	100.63	101.51
GBP/USD	1.4549	1.4691	1.4952	1.5094	1.5355	1.5497	1.5758
GBP/JPY	143.87	145.41	147.80	149.34	151.74	153.27	155.67

Monthly Pivot Points

	S3	S2	S1	P	R1	R2	R3
EUR/USD	1.2195	1.2540	1.2892	1.3237	1.3589	1.3934	1.4286
USD/JPY	90.03	92.82	95.85	98.64	101.67	104.46	107.49
GBP/USD	1.3566	1.3919	1.4360	1.4713	1.5154	1.5507	1.5948
GBP/JPY	127.25	133.12	139.75	145.62	152.25	158.12	164.75

Note:

Pivot points are very useful tools that use the previous bars' highs, lows and closings to project support and resistance levels for future bars. Daily pivot points are useful for swing trading. Longer term pivot points provide an idea of where key support and resistance levels should be. Place the pivot points on your charts and see how traders appear to give pivot point levels a lot of respect. Daily pivots are calculated from previous day's high, low, close which ends at 24.00 GMT.

read more...

Trading Journal (GBPJPY)

I've short GBPJPY @147.20, SL @148.20, TP @142.50 (S3 Daily Pivot Points)
My reasons are:

• Main trend is downtrend.
• Prices have touched red-trendline @H1 and prices closed below it.
• Blue-trendline has been broken @H4 and prices closed below it.

Closed with lost -100pips

Trading Journal

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Daily Pivot Points

	S3	S2	S1	P	R1	R2	R3
EUR/USD	1.3430	1.3496	1.3573	1.3603	1.3649	1.3713	1.3759
USD/JPY	95.43	96.34	96.97	97.88	98.51	99.42	100.05
GBP/USD	1.4866	1.4967	1.5043	1.5144	1.5220	1.5321	1.5397
GBP/JPY	142.50	144.61	146.08	148.19	149.66	151.77	153.24

Weekly Pivot Points

	S3	S2	S1	P	R1	R2	R3
EUR/USD	1.2902	1.3057	1.3345	1.3500	1.3788	1.3943	1.4231
USD/JPY	96.02	96.97	97.85	98.80	99.68	100.63	101.51
GBP/USD	1.4549	1.4691	1.4952	1.5094	1.5355	1.5497	1.5758
GBP/JPY	143.87	145.41	147.80	149.34	151.74	153.27	155.67

Monthly Pivot Points

	S3	S2	S1	P	R1	R2	R3
EUR/USD	1.2195	1.2540	1.2892	1.3237	1.3589	1.3934	1.4286
USD/JPY	90.03	92.82	95.85	98.64	101.67	104.46	107.49
GBP/USD	1.3566	1.3919	1.4360	1.4713	1.5154	1.5507	1.5948
GBP/JPY	127.25	133.12	139.75	145.62	152.25	158.12	164.75

Note:

Pivot points are very useful tools that use the previous bars' highs, lows and closings to project support and resistance levels for future bars. Daily pivot points are useful for swing trading. Longer term pivot points provide an idea of where key support and resistance levels should be. Place the pivot points on your charts and see how traders appear to give pivot point levels a lot of respect. Daily pivots are calculated from previous day's high, low, close which ends at 24.00 GMT.

read more...

Trading Strategy

GBPJPY

My trading journal this week is not different with my review last week.
But I have modified down-channel at daily chart to get better channel.
From charts below, I see that trend is still downtrend and then I am still waiting for confirmation @ H4 to set up short entry. If direction is changed, I have buy setup above purple line.

Trading Plan :

• Sell when prices close below blue-trend line @ H4.
• Buy, if direction is changed and prices go to north, buy when prices close above purple-line @ daily.
• Set stoploss as I can find support or resistance area @ H4 and set my target @ lime-line (167.29) for buying and set @ red-line (128.16) for selling.

Trading Strategy

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