Pivot Point Strategies for Forex Traders

pivot point strategies for forex traders

Sumary of Pivot Point Strategies for Forex Traders:

  • 24, 2021A forex pivot point strategy could very well be a trader’s best friend as far as identifying levels to develop a bias, place stops and identify potential profit targets for a trade.
  • The basis of pivot points is such that price will often move relative to a previous limit, and unless an outside force causes the price to do so, price should stop near a prior extreme.
  • Pivot point trading strategies vary which makes it a versatile tool for forex traders.
  • Keep reading to learn more about:Defining the pivot pointHow to calculate pivot pointsUsing pivot points in forex tradingPivot point trading strategiesDifference between pivot points and Fibonacci retracementsWhat is a pivot point?
  • A pivot point is a is a technical indicator used by forex traders as a price level gauge for potential future market movements.
  • The pivot point indicator is used to determine trend bias as well as levels of support and resistance, which in turn can be used as profit targets, stop losses, entries and exits.
  • Below is an example of what is offered on the IG trading platform for daily pivots.
  • The same calculation can be made for weekly or monthly pivots too:How did the pivot point calculation come about?

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