Pivot points may have started as an advanced tool for equity and futures exchange, it is now a widely used tool in the foreign exchange market (forex); making pivot point forex a must for all forex traders.
The pivot point forex technique is best suited for the forex markets since trading is usually with currency pairs that are very liquid (easy to trade) and there exists a large market.
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Forex pivot points: Pivot points are indicators developed by floor traders in the commodities market to determine potential turning points, which are also known as “pivots”.
Forex pivot points are calculated to determine levels in which the market could change from “optimistic” to “pessimistic” Forex currency traders see pivot points as markers of support and resistance.
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