pivot point trading strategies, page-6

Here is how I work out the some turns and probabilities of FX and futures (long trades only)

BTW i always use the DOW futures to complement my analysis on FX trades

1. High probability long trade bounce off the bottom bollinger band on the daily - because the slope of bollinger bands is up

2. Deep penetration of lower band, will spring back up, but low probability long trade because of steep bollinger band slope downwards

3. Deep penetration of lower band, same conditions as two, finds horizontal support, bounces, improves potential of going long at 4

4. Bollinger Bands are now horizontal, safer to go long, quadruple bottom = huge long potential

5. Bollinger bands sloping up from 4-5 (sorry missed drawing the diagonal line) double bottom safe long trade