Simple's Green Room

[pennies2007]

This is the website I'm using to calculate pivots (at the bottom of the post). It's been accurate so far each to within 10 or 15 pips. What I do is I adjust it down to make sure I hit my target.

For example, the UJ pivot I'm watching based on yesterday's daily candle is the M3 level at 89.53. Since UJ bounced around 88.60 today, that corresponds with the M1 pivot of 88.531 that I had going into this morning's trading. From the trading video Simplegreen posted, most movements that find support or resistance at a median point will travel in the opposite direction two median points. So, this time we're moving from M1. M1 + 2 gives me a target of M3 at 89.53. Looking at the chart, I can see that the bottom of the 1 hour tunnel is 89.463 so that's the absolute highest level I would try to go with this particular trade.

I'll probably take some off of the table at the EMA62 on the hourly chart which is sitting at 89.23 right now. That way I've got some good profit in the pocket and I can ride the rest out even if it dips back.

http://www.fxstreet.com/forex-tools/pivot-point-calculator/