交易每周枢轴点 (Trading the Weekly Pivots)

Been in and out of FX for the past 5years or so. Have gone through the whole "search for the holy grail" process, and of course not found any. But here's hoping that this method will result in healthy returns yet not being a slave to the screens.

A strong believe in KISS.

1) throw up a weekly pivot indicator on your chart, preferably one that shows you previous weekly pivots too, so that you can backtest manually.
2) find the distance between (a) pivot and wkly resistance (b) pivot and wkly support
3) trade the direction of the one with the larger distance

1. e.g. pivot is 180pips apart from weekly resistance. pivot is 230pips apart from weekly support. GO SHORT

*the difference between (a) and (b) should be significant enough. at least 30 pips difference.*

put a trade limit on the pivot and go do something else for the day.

Stop loss
I normally place it slightly below the nearest price support/resistance, or a round number, 00 or 50, nearest to the weekly support/resistance

Take Profit
Sometimes I place it at the nearest price support/resistance, or the round number nearest to the weekly support/resistance.

*Your reward should be larger than your risk! Or at the very least, equal*

Risk Management
Go with what you're comfortable with. But whatever you do, trade a few pairsto diversify the risk

Disclaimer:
I'm no pro. Follow at your own risk. I find the daily pivots do not work very well, so weekly pivots it shall be. Some pairs are good to trade, some aren't.

Discussions:
I hope someone will backtest it and produce some statistics. Discussions about tweaking TP & SL, a better way of judging when to enter, or different timeframes are welcomed. Complicating this method is highly frowned upon on. Any pros who are trading a KISS pivot method please share!