Here are some easy-to-memorize tips that will help you to make smart pivot point trading decisions: Pivot points are a technique used by forex traders to help determine potential support and resistance areas. There are four main ways to calculate for pivot points: Standard Woodie Camarilla Fibonacci. Pivots can be extremely useful in forex since…
The standard method of calculating pivot points is NOT the only way to calculate pivot points. Just like listening to BTS is not the only way to listen to K-pop. (Blinks! Annyeonghaseyo!) Traders have worked on improving the original pivot point and now there are other ways to calculate for pivot points. In this lesson,…
There is one other way to incorporate pivot points into your forex trading strategy, and that’s to use it to gauge market sentiment. What this means is that you can tell whether traders are more inclined to buy or sell the currency pair. All you would need to do is to keep an eye on the pivot…
Just like your normal support and resistance levels, pivot point levels won’t hold forever. Using pivot points for range trading will work, but not all the time. In those times that these levels fail to hold, you should have some tools ready in your forex toolbox to take advantage of the situation! As we showed…
The simplest way to use pivot point levels in your forex trading is to use them just like your regular support and resistance levels. Just like good ole support and resistance, the price will test the levels repeatedly. The more times a currency pair touches a pivot level then reverses, the stronger the level is. Actually, “pivoting”…
The first thing you’re going to learn is how to calculate pivot point levels. The pivot point and associated support and resistance levels are calculated by using the last trading session’s open, high, low, and close. Since forex is a 24-hour market, most forex traders use the New York closing time of 5:00 pm…
What are pivot points? Professional forex traders and market makers use pivot points to identify potential support and resistance levels. Simply put, a pivot point and its support/resistance levels are areas at which the direction of price movement can possibly change. The reason why pivot points are so enticing? It’s because they are OBJECTIVE. Unlike some of the other…
Like we promised, here’s a neat little cheat sheet to help you remember all those chart patterns and what they are signaling. We’ve listed the basic classic chart patterns, when they are formed, what type of signal they give, and what the next likely price move may be. Check it out! CHART PATTERN FORMS DURING TYPE OF…
That’s a whole lot of chart patterns we just taught you right there. We’re pretty tired so it’s time for us to take off and leave it to you from here… Just playin’! We ain’t leaving you till you’re ready! In this section, we’ll discuss a bit more about how to use these chart patterns to…
A triangle chart pattern involves price moving into a tighter and tighter range as time goes by and provides a visual display of a battle between bulls and bears. The triangle pattern is generally categorized as a “continuation pattern”, meaning that after the pattern completes, it’s assumed that the price will continue in the trend direction it was moving…