FX.co ★ AUD/USD. Weekly and Monthly Pivot Points, For 24- 28 / October, 2011

While many individual traders planning to enter the pivot, and negotiating the move to outside the pivot, professionals think backwards. Novice traders need to take a different approach to enter with better odds that might be missing.

It is almost always more successfully (a) to look for a stage of congestion instead of a stage of trend - due to the fact that to that the majority of days are days in congestion, and (b)exit at the pivot, because most traders are looking to start an investment and the volume increases.

_____WEEKLY_____
Weekly - R3 = 1.0723
Weekly - R2 = 1.0551
Weekly - R1 = 1.0462
Weekly Pivot = 1.0290
Weekly - S1 = 1.0201
Weekly - S2 = 1.0029
Weekly - S3 = 0.9940

_____MONTHLY____
Monthly - R3 = 1.1564
Monthly - R2 = 1.1167
Monthly - R1 = 1.0414
Monthly Pivot = 1.0017
Monthly - S1 = 0.9264
Monthly - S2 = 0.8867
Monthly - S3 = 0.8114