Best use of Pivot Points for Day and Positional trading 2022

Georgethomas23 Mar, 2022Finance

Today, we?ll look at the importance of Pivot Points in day trading. One of the most extensively utilized indicators in day trading is pivot points. The program generates a specific plot of seven support and resistance levels that can be used to identify intraday market turning points. Price tends to react to these levels since many market participants keep note of them. A pivot point is a technical analysis indicator that uses the high, low, and close price for a specified time in the prior period to indicate future support. Other modest calculations are also used to calculate the outside points. They can be plotted automatically on a regular basis. However, traders often locate their own support and resistance levels by looking for historical turning points in the market.