Utilizing Pivot Points Effectively In Forex
This is a discussion on Utilizing Pivot Points Effectively In Forex within the General Forex Strategies forums, part of the Forex Strategies category; Pivot points are one of the most essential aspects of many trading strategy & understanding them will make a huge ...
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05-05-10, 03:49 AM
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Utilizing Pivot Points Effectively In Forex
Pivot points are one of the most essential aspects of many trading strategy & understanding them will make a huge difference in your Forex results. A pivot point is easily defined as "the level at which the market direction changes significantly for the day"
These pivot points are very important support & resistance levels & they are characterized by important changes or shifts in a trend. Everyday you trade Forex, the market has a high, low & close for the day, you can utilize these previous bars (levels) to predict the support & resistance levels on future bars.
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