how to use pivot point in intraday trading - Daily 100 Pips
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The pivot point bounce trading system uses a short-term time frame and the standard daily pivot points, and it trades the price moving toward, and then bouncing off of, any of the full or halfway pivot points. Pivot points are support and resistance levels that are calculated using the open, high, low, and close of the previous trading day.

The pivot points include the pivot point itself, six full support and resistance points, and four halfway support and resistance points. When the price approaches a pivot point (especially for the first time in each direction), it will have a tendency to reverse, and it is this reversal that is used by the pivot point bounce trading system.

The default trade uses a 1 to 5-minute OHLC (open, high, low, and close) bar chart, and the daily pivot points. Traders can automate trades or follow and execute them manually. Traders across the globe can use this strategy in their local time zone or make trades following other markets in different time zones. Pivot point bounces are typically most profitable during a market’s busiest hours—one to two hours following an open and one to two hours prior to a close.

The following tutorial uses the DAX futures market, but the same steps can be used on whichever markets you are trading with this trade. The trade used here is a short trade, using 1 contract, with a target of 20 ticks, and a stop loss of 10 ticks.

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