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Standard Forex Pivot Points begin with a base Pivot Point. This is a simple average of the high, low and close. The middle Pivot Point is shown as a solid line between the support and resistance pivots. Keep in mind that the high, low and close are all from the former period.
Pivot point calculation is one of the most popular trading tools in Forex technical analysis.
Forex calculators will help you to make the proper decision while trading Forex. Calculators offers the most complete information on imaginary trade.
What are Pivot Points?
Pivot point is the price at which the price fluctuation of a currency pair is expected to move into a different direction. If for example, a currency pair price is hiking up, the pivot point price indicates that once the price reaches that level the currency pair might start going down and vice versa.
Pivot Point Trading
a) When the pair currency price may change the direction of movement.
b) Possible constraints of support and resistance that creates plateaus for the currency pair prices.
c) Tendency identification by comparing the present prices according to current day's pivot point and also the prior day's pivot points.
Calculator Pivot Point
Forex Support and Resistance Levels by Pivot Points
When calculating pivot points there are 3 expected value types and they are:
1) Pivot Point price: the price fluctuation of a currency pair is expected to change into a different direction.
2) Resistance levels: There are 3 resistance levels that coincide with the pivot point price. These levels could indicate the price levels at which a resistance plateau is expected; if the price is climbing up to those levels, it is expected that the price will start moving down again.
3) Support Levels: As with the resistance levels, there are 3 support level prices that indicates the levels of support to the downward price. For example, if the currency pair price is going down at these levels it is expected that the price could start hiking up.
Pivot points to check if it is up-tendency or down- tendency:
In trading, it is common to use pivot point calculations to find the support and resistance levels and also to recognize a possible point of change in the direction of the fluctuation for a trading or day session. Pivot points can be used also to estimate if a currency pair is having an uptrend or a downtrend.