Pivot Trading
Pivots are important levels that can be used as support or resistance in various timeframes.We will focus on DAILY and WEEKLY pivots as they are working the best.
Pivot points are ot the top of our trading arsenal list.These are the list of pivots that traders mostly use.
1.CLASSIC PIVOTS
2.CAMARILLA PIVOTS
3.WOODIE PIVOTS
4.OHLC PIVOTS
5.FIBONACCI PIVOTS
For now we will not get in depth of how each one is calculated.We will use an indicator instead to implement it for us.We need to learn how to trade for best results.The pivots we will use are 1.CLASSIC PIVOTS and 2.FIBONACCI PIVOTS.
Pivot points consist of MAIN PIVOT level ,SUPPORTS and RESISTANCES.
At example 1 we have implemented CLASSIC PIVOTS at a EURAUD DAILY CHART.Even if we scale down on 4h or 1h chart ,pivots will still be daily pivots.
Even for the amateur traders eye it is obvious that price do hit pivot points and respects a lot of them.We will take advantage of this and make our trading moves.