FOREX PIVOT POINTS
What are pivot points in forex trading?
Please give a reference to an explanatory article. Thank you.
First of all, “no nickname” is clueless. He probably had 1 bad experience in FX trading and considers it a scam. It’s like going out on 1 bad date and now dating is a scam? Please. Second, Uman needs to read the news. With real estate declining (and quickly by several comments from people that have worked in the industry for decades) I’m sure he’s going to get burned soon. Flippers and r.e. investors are starting to lose money. With house values declining and new home builders offering incentives to sell their homes, r.e. investors are getting taken to the cleaners.
Alas, none of them answered your question. A pivot point is not exclusive to the FX markets. You can use pivot points in stocks, futures, etc. A pivot point is a calculation based on the high, low & close price of the previous day. A pivot point is a “possible” point where prices could turn. Or if prices exceed that point, then it could act as potential support/resistence (depending on which way the market is moving). If prices fall below the pivot, then it could now act as resistence. If prices rise above the pivot, then it could now act as support.
How To Use Pivot Points To Trade Forex