Pivot calculator - Usage
Dear Friends,
I have joined this forum today & Greetings to all seniors.
Pl share as to How the Pivot calculator readings should be used for day trading.
Happy trading
I have joined this forum today & Greetings to all seniors.
Pl share as to How the Pivot calculator readings should be used for day trading.
Happy trading
In their most basic usage they are used as support and resistance areas to takes profits or enter counter-directional trades. Values above the current price are resistance and values below are support.
Most traders, however, don't use them in isolation. They are usually a confirming value for a strategy.
Some traders look for clusters of resistance and support and so use the pivot points to generate one set and use other techniques (Moving Averages, Bollinger Bands etc.) to find areas where there are many "lines" price points at which a market might stall and/or reverse.
Most traders, however, don't use them in isolation. They are usually a confirming value for a strategy.
Some traders look for clusters of resistance and support and so use the pivot points to generate one set and use other techniques (Moving Averages, Bollinger Bands etc.) to find areas where there are many "lines" price points at which a market might stall and/or reverse.
Thank you for the quick reply & explanation.So,i presume that to trade with only S & R in isolation is futile.
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