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Using Pivot Points in Forex Trading: Classic Pivot Points

Using Pivot Points in Forex Trading: Classic Pivot Points

6 Years ago | August 27, 2014 00:00:00

At the end of trading each day (NY close at 16:00 local time), Global-View updates its FX database and based on that price data it computes the day’s pivot point for the next session. The Pivot point is te average of the day's high, low and close). Very simple! 

Using a classic pivot point trading system, the pivot point is the primary support/resistance for the next trading period. Pivot point traders expect the largest price movement to occur when this level is initially penetrated on the up or downside. Thus they buy on a penetration of pivot point resistance or sell on a penetration of pivot point support. Honestly, I am not confident that this system would work well in the current low-volatility condi

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