Pivot points rules in forex can be used by range, breakout and trend traders:
If a market is trading in a range, a buy order may be placed near S1, S2 or S3 or a sell order near R1, R2 or R3. These levels can also be used to identify price breakouts or confirm market trend.
If a market is trading in a range, a buy order may be placed near S1, S2 or S3 or a sell order near R1, R2 or R3. These levels can also be used to identify price breakouts or confirm market trend.
As with any technical indicator, pivot point signals work best when combined with with other forms of technical analysis such as:
• trendline analysis and moving averages to identify trend
• Fibonacci retracement levels to confirm the pivot point support and resistance levels
• stochastics, oscillators, and relative strength to monitor overbought or oversold market conditions
• candlestick charts to help spot possible market reversals.
Good luck and remember you can contact your personal account manager if you need any assistance.
• trendline analysis and moving averages to identify trend
• Fibonacci retracement levels to confirm the pivot point support and resistance levels
• stochastics, oscillators, and relative strength to monitor overbought or oversold market conditions
• candlestick charts to help spot possible market reversals.
Good luck and remember you can contact your personal account manager if you need any assistance.
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