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Pivot Trading Strategy

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Pivot Trading Strategy

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Scalperology Ai MT5
Global
Pairs: AUD/JPY
AUD/JPY
AUD/USD
EUR/AUD
EUR/GBP
EUR/JPY
EUR/NZD
EUR/USD
GBP/USD
NZD/USD
USD/CAD
USD/CHF
USD/JPY
30-Day Profit: 0%
7-Day Profit: 0%
Support: 24х7 via Telegram
Test it Free🚀
Breakopedia Ai MT5
Global
Pairs: AUD/JPY
AUD/JPY
AUD/USD
EUR/AUD
EUR/GBP
EUR/JPY
EUR/NZD
EUR/USD
GBP/USD
NZD/USD
USD/CAD
USD/CHF
USD/JPY
XAU/USD
XAG/USD
XBT/USD
30-Day Profit: 0%
7-Day Profit: 0%
Support: Developer
Try it Free🍀

What is a Pivot Point?

  • A pivot point is a critical price level that indicates potential market direction.
  • It acts as a gauge for traders to determine the trend bias and levels of support and resistance.
  • Computed from the previous period's high, low, and close prices, it is the intersection of supporting and resisting forces.
  • Commonly recognized as the starting point for analysis, traders use it for profit targets, stops, entries, and exits. 📈

    • How to Calculate Pivot Points

  • Basic formula for calculating the floor-trader pivot point:
  • Pivot Point (PP) = (High + Low + Close) / 3
  • First Resistance (R1) = 2 x PP - Low
  • First Support (S1) = 2 x PP - High
  • Second Resistance (R2) = PP + (High - Low)
  • Second Support (S2) = PP - (High - Low)
  • Third Resistance (R3) = High + 2(PP - Low)
  • Third Support (S3) = Low - 2(High - PP)

    • How to Use Pivot Points in Forex Trading

  • Price movement often respects pivot point levels as it does with traditional support and resistance.
  • Guidelines for usage include:
  • Price above the pivot indicates a bullish bias.
  • Price below the pivot indicates a bearish bias.
  • Longer period pivot points tend to be more reliable due to more data.
  • Supplementing pivot points with additional indicators enhances decision-making. 🎯

    • Pivot Point Trading Strategies

  • It offers various trading strategies, such as:
  • **Swing Trading:** Use weekly/monthly time frames for medium to long-term trades.
  • **Intraday Trading:** Focus on calculating pivot points for short-term trading opportunities.
  • **Combining Indicators:** Use pivot points alongside other indicators like RSI, MACD, or candlestick patterns to confirm trades.

    • Advantages of Pivot Trading Strategy

  • Allows for quick identification of market trends and reversals.
  • Simple calculations make it accessible for all traders, including beginners.
  • Widely used across different markets—stocks, commodities, and Forex—enhancing its versatility.
  • Pivot points being self-reinforcing means they can create trading opportunities when other traders react to them. 💵
    • No trading robots found.
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