In trading would be very nice if we have a map that can give you an idea where a position of a lever the price relative to market conditions and where the possibility of currency movements based on market conditions. Such maps will greatly assist us in deciding what transactions can be taken to make a profit.
Pivot point is a technique developed by stockbrokers on the trading floor, which can help us see where the location of a price level relative to the situation and market dynamics that happen before.
In accordance with the meaning he said, pivot point means a point or a limit to which a price movement will reverse direction. In forex, pivot point is the level where the market sentiment changed from 'bullish' to be 'bearish' or vice versa. Pivot points are such as support or resistance, the price is moving closer to this point will get resistance and will reverse direction. But if the price broke through and move past this point, the movement will continue until it reaches the next pivot point.
Professional traders often use the pivot point is to identify levels of support and resistance are important. Simply speaking, the pivot point with all levels of support and resistance it is the region where the direction of currency movements memili possibility for change.
Pivot points are especially very useful for daily traders who often take advantage of small movements that occur in the market for profit. On market conditions 'range-bound' pivot point is used to estimate an upper limit lower limit da currency movements, while the market is trending pivot point is used to estimate the level at which prices will move out (breakout).
I this post I will share indicor of pivot point so we do not need manually calculate pivot point. Here is appearance of Pivot Point Indicator.
Just install this indicator to your trading platform and you can get instant pivot point. Click here to download this indicator
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