DailyFX released a new pivot point tool today
Posted 01-29-2010 at 12:33 PM by DailyFX
DailyFX released a new pivot point tool today.
You can choose from 4 data types: Pivot Points, Camarilla, Woodie, and OHLC. I selected Pivot Points for the screenshot above and circled in red the pivot point level. To the left of the pivot point level is the support levels and to the right is the resistance levels.
As a general overview, a pivot point takes yesterday's high, low, and close then divides it by 3 to give you the pivot point. Traders often look at the pivot point to distinguish whether the market is bullish or bearish. If the market is trading above the pivot, then it is bullish. If the market is treading below the pivot, it is bearish.
Here's where you can find it on the website Forex Pivot Points
You can choose from 4 data types: Pivot Points, Camarilla, Woodie, and OHLC. I selected Pivot Points for the screenshot above and circled in red the pivot point level. To the left of the pivot point level is the support levels and to the right is the resistance levels.
As a general overview, a pivot point takes yesterday's high, low, and close then divides it by 3 to give you the pivot point. Traders often look at the pivot point to distinguish whether the market is bullish or bearish. If the market is trading above the pivot, then it is bullish. If the market is treading below the pivot, it is bearish.
Here's where you can find it on the website Forex Pivot Points
Total Comments 0
Comments
Total Trackbacks 0
