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Pivot Point Trading Tutorial | Technique | Predictions

Posted By On 11/03/2009 10:04:00 PM Under

One can check the Pivot Point Calculator which can help one to get the support and resistance numbers. One can use the pivot points for Predictions to get quite accurate results. One can use our calculator and below technique which will help one get the answer related to queries being made in Google for forex pivot point trading, candlestick pivot point, fibonacci calculator, pivot point calculator, futures pivot points, pivot point reversal, eur usd pivot points and floor traders pivot points.

Step 1
"In general, if the day's Price Action starts above the Pivot, it will tend to stay above the Pivot.
This simple observation provides the basic rules for two of the simplest Pivot trading systems.
System 1:
Open is above Pivot: Buy
Open is below Pivot: Sell
System 2:
Place Buy and Sell stops bracketing the Pivot. Whichever is not filled acts as safety stop for the other.
These "systems" are very much too raw for my tastes. Too much chance of getting whipsawed. Let's take it one step deeper. Let's refine these simple systems just a bit more:
Step 2
First Fundamental Of Pivot Trading After the opening range (first 15-30 min. to one hour), if price is above/below the Pivot, Price Action will strongly tend to remain above/below the Pivot for the session.
Although this rule bids us to wait out the Opening Range and thus avoid much of the wildness and whipsawing, overlooking the next Fundamental Of Pivot Trading could be disastrous:
Step 3
If the market opens, or later trades at the extremes (R2, R3 or S2, S3), it will exhibit a tendency to trade back toward the Pivot. Thus, the general rule, 'Avoid buying the High or selling the Low', becomes increasingly more stringent as price moves farther from the Pivot.
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