Pivot Points - Financial Market Technical Analysis

What are Pivot points?

Pivot point indicates support and resistance lines of current trading day by applying certain formula in consideration of previous trading day Close, High and Low prices.

Through many years traders have used Pivot points to confirm and conjecture future prices within that day. Normally 3 support and resistance lines can be determined.

There are diverse Pivot point types with different obtaining methods; Classic, Fibonacci, Woodie’s, Camarilla and DeMark’s.

Fibonacci version utilizes Fibonacci levels such as 0.386 and 0618 in a specific formula to get support and resistance levels.

Close price has most important effect on Woodie’s model of Pivot points. DeMark’s model uses relationship between Close and Open price prices.

Camarilla identifies more support and resistance level from given formulas in which farther support and resistance has more effects on market trend.

Floor Pivot point uses support and resistance level as well as other inputs to determine next support or resistance level.

Pivot Points

Pivot points trading strategy

There are various trading methods that utilize Pivot Points

Type I

Overlapped Pivot Levels: If the levels of different Pivot Points overlap each other, strong support/resistance levels form, on which reversal candlestick patterns show an appropriate spot to order a trade

Type II

Pivot with Divergence/Convergence: Pivot Points, which are near current price, have powerful effect on market price direction if Overbought/Oversold condition appears and indicator/oscillator level is crossed by trend line.

Features of Pivot Point in Technical Analysis

Functional on all markets
Operative on all financial markets and symbols
Diverse strategies
Different strategies can be concluded from various types of Pivot points
Great efficacy
Due to high rate of use by most of traders, Pivot points have considerable influence on market trend
Useful for Scalpers
Beneficial technical analysis for scalpers to open orders with current day support and resistance levels
Support/Resistance lines
Powerful and efficacious support and resistance lines and levels can be detected
Short-Term specs
Good for orders with short-term expectancy

Advantages of our Candlestick Technical Analysis

Utilizable on ALL financial markets
We have designed our well-developed system to generate sound and magnificent analysis on all tradable symbols and financial markets
Modified and perfect patterns
Our professional R&D team has developed robust and ultra-fast automated system with precise monitoring on most accurate prices and points to generate reliable technical analysis from Pivot points
Accessible through Mobile App
Our technical team have developed application for both iOS and Android cell phones and tablets
Attainable via Desktop App (Linux and Windows)
Desktop application can be executed on Linux and Windows operating systems
Variable Pips
Traders can place trades with different TP and SL prices based on market trend conditions and confirmations
Timely alert
Immediate alert will be generated after entry price has been touched
We provide our technical analysis on all available time frames

Pivot Points

Copyright © 2011-2021 PFOREX.COM | Professional Forex School | Cashback and Rebates