November 2011
Beginner
335 pages
9h 33m
English
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Pivot Points
The purpose for introduction of this old and reliable indicator is due to its widespread use by floor traders and other market professionals. The tradition continues to this day. Yet pivot points are important to measure other instruments such as stock indices against currency pairs.
The basic pivot-point calculation is provided, yet much experiment can be formulated for other uses. For example, Daniel Fernandez in the December 2010 Currency Trader magazine highlighted pivot points calculated to Fibonacci numbers.
Traditional pivot-point applications determined support and resistance levels, but as time progressed, trading methodologies were employed such as range and price breaks with addition of new sets of pivot points. It became ...
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