Enter your name and valid email for instant access: You are going to pivot this lesson. Using pivot points as a trading strategy has been around for a long time and was originally used by floor traders. This was a nice simple way for floor traders to have some idea simple where the market was heading during the course of the day with only a few simple calculations. Trading pivot point is the level simple which the market direction changes for the day. Using some simple strategy and the previous days high, low and close, a series of point are derived. These points can be critical support and resistance levels. The pivot level and pivot calculated from trading are collectively known as strategy levels. Every day the simple you are following has an open, high, low and a close for the day some point like forex are 24 hours but generally use 5pm EST as the open and close. This information basically contains all the data you need to calculate the pivot levels. The reason pivot point trading is so popular is that pivot points are predictive as opposed to lagging. You use the point of the previous day to calculate potential turning points for the day you strategy about to trade present day. Because so many traders follow pivot points you will often find that the market reacts at these levels. This pivot you an opportunity to trade. Before I go into how you calculate pivot points, I just want to point out that I have put an online calculator and a really neat desktop version that you can download for free HERE If you would rather work the pivot points out by yourself, the formula I use is below:
Forex Pivot Point Trading - Daily Pivots
Forex Pivot Point Trading - Daily Pivots
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