Best Pivot Points Trading Strategy (Explained)

In today's video we'll be going over the Best Pivot Point Trading Strategy, while also explaining exactly about how to use pivot points in your forex trading.

So if you're looking for an effective pivot points trading strategy that you can test in the markets, make sure to tune in for today's video!

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So here we have a chart with a standard pivot point indicator added to it. We have a blue line in the middle of the chart which is labelled “P.” This is our middle pivot point. We then have 3 lines above this pivot, labelled R1, R2 and R3. The R stands for resistance, meaning that these levels will tend to act as resistance when price reaches them. We also have 3 lines below this pivot, labelled, S1, S2 and S3. The S stands for support, meaning that these levels will tend to act as support when price reaches them.

The majority of price movement on a typical trading day will tend to occur between the levels of S1 and R1. That’s not to say that price can't move past these levels, it’s just saying the that majority of price movement will happen inside of this area.However, you’ll occasionally see days when the market is in a very strong trend, where it’s not uncommon to see price reach all the way down to S3, or all the way up to R3. For example: Here you can see that after a small bounce off of R1 near the start of the day, price breaks through R1, shoots upwards and breaks through R2 and makes it all the way to R3 before the day is over. So while these kinds of days are less common than others, you will definitely see them happen from time to time.

So there are 3 main ways that we can use pivot points in our trading. The first way is to help us determine the overall sentiment of the market. When price is trading above the middle pivot and remaining above it, then it’s generally said that there is a bullish sentiment in the market, so we would be on the lookout for buy trades.

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Beauty Flow by Kevin MacLeod
Link: https://incompetech.filmmusic.io/song/5025-beauty-flow
License: http://creativecommons.org/licenses/by/4.0/

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Foreign exchange trading on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts. Past performance is not indicative of future results. The information presented today is not meant for use in live trading.
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Видео Best Pivot Points Trading Strategy (Explained) канала Trading Beacon