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Pivot points have been a trading strategy for quite a while, initially used by traders on the platforms. Using this method, you can understand where the market is moving in a day with a few simple calculations.
The pivot point in the pivot method is the turning point of the market direction during the day. A number of points can be obtained by simply calculating the maximum, minimum and closing price of the previous day. These points can form key support and resistance lines. The pivot point, support and resistance levels are collectively referred to as the reference level.
The market you see has an opening price, a high price, a low price, and a closing price every day (some markets are open around the clock, such as the foreign exchange market, which usually uses 17: 00 EST as the opening and closing time). This information contains all the data that you use with the rotate method.
The pivot point method is so popular because it can be predicted, not deferred. You can use the previous day’s data to calculate a possible turning point on your trading day (the current trading day).
Since there are many traders who trade using the pivot point method, you will find that the market reacts to these key positions. This gives you an opportunity to trade.
Pivot Point is an intraday trading method. It is very simple and practical. This is a very “simple” resistance support system. This is a method invented by a futures master about 10 years ago. It is widely used in stocks, futures, government bonds and indices. About the mass products. The classic Pivot Point system is a 7-point system that consists of 7. The currently widely used 13-point system is actually the same, but with an additional 6 prices, it is used for high volume goods.
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