Pivot point.rtf

Pivot point.rtf - Pivot points All you need to do is open...

  • No School
  • AA 1
  • 7

This preview shows page 1 - 7 out of 7 pages.

Pivot points All you need to do is open hourly charts. Highlight (for visual aid) the time period from 5 pm to 5pm EST, for example, by drawing two vertical lines, as seen on the screenshot below. Withing the highlighted time period find: the highest price point - High the lowest price point - Low the close of the last candle (technically it will be 4:59:59 pm) - Close Use calculator to find Pivot points. ~ identify potential support and resistance level ~ it is objective (not included personal opinion), same from others ~ take advantage of small price movement ~ range- bound ( use it to identify revearsal point) ~ identify level where it need to be broken ~ PP = pivot point S = support
Image of page 1

Subscribe to view the full document.

R = resistance Pivot point (PP) = (High + Low + Close) / 3 First resistance (R1) = (2 x PP) – Low First support (S1) = (2 x PP) – High Second resistance (R2) = PP + (High – Low) Second support (S2) = PP – (High – Low) Third resistance (R3) = High + 2(PP – Low) Third support (S3) = Low – 2(High – PP) ~ need to configure to make sure it use correct closing time and price ~ the more times it test the resistance/support, the more stable it is
Image of page 2
Image of page 3

Subscribe to view the full document.

Image of page 4
Image of page 5

Subscribe to view the full document.

Image of page 6
Image of page 7
  • Fall '19

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern