Short-term, forex, and online traders try and mix different trading strategies and patterns. Traders popularly use various technical analysis tools, and one such technical analysis tool is the pivot point. Pivot point trading is prevalent in the equity and commodity markets. It is part of the major tools in technical analysis.
A pivot point is an indicator developed by floor traders in the commodities markets to determine potential turning points, also known as “pivots.” Forex pivot points are calculated to determine levels in which the sentiment of the market could change from “bullish” to “bearish.” Online traders see pivot points as markers of support and resistance.
Pivot point trading is a strategy where traders use Pivot point levels for entry and exit positions as important trading levels. Online traders use short-term, daily and intraday pivot point levels, weekly traders weekly pivot point levels, etc. Using this strategy, traders trade assets respecting current volatility.
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