Forex Indicators
What exactly is pivot point?
And how does it help in FOREX and candle chart studies?
Public Comments
- A pivot point is a calculation of support and resistance lines based on the high, low and close price of the previous day. You can use it for instance as a trend indicator, if the market breaks out of the region indicated by the pivot lines, then it's trending. Often after breaking out to the upside, the pivot line will start to act as a support.
- I don't have much to add to the above post, but the following is a good book (not Forex perse) on how to use pivots: http://www.amazon.com/Logical-Trader-Mark-B-Fisher/dp/0471215511/sr=8-1/qid=1163582778/ref=pd_bbs_sr_1/002-5072896-8960010?ie=UTF8&s=books
- A pivot point is an area of support or resistance for an fx pair. Here's how their calculated... http://www.mypivots.com/Education/tools/pivot-calculator/index.htm and from investopedia.... http://www.investopedia.com/terms/p/pivotpoint.asp
