The following is from the Forex Forum and posting here to give it a longer shelf life. Al describes how to use monthly pivots for trading:
Tonbridge AL 10:28 GMT June 12, 2011 - My Profile
Jay yes. agreed and the way to play it is to sell upticks close to it always with regard to the time of day and timeframes utilized and then if penetrated to buy downticks in that classic resistance blah blah
GVI Forex Jay 19:07 GMT June 11, 2011 - My Profile
Al, what caught my eye in your videos (and thanks as always for your generous and selfless contributions) is the eur/usd monthly pivot and how it traded above it for most of the year until it was broken on the move off of 1.4939. It is something to keep an eye on.
I show the monthly pivot for May at 1.4431.
Tonbridge AL 14:19 GMT June 11, 2011 - My Profile
Weekly setup videos for the EUR/USD and GBP/USD for the week ahead