Recap: Turning Points

Pivot points are like the OG cheat codes for traders, helping them spot where support and resistance levels might pop off in the market.

They’re the real MVPs in helping traders decide when to slide into or dip from trades, set up their stop-loss like a pro, and figure out where to secure the bag with profit targets.

Pivot points usually get their vibes from the high, low, and closing prices of a currency pair from the previous trading sesh.

There are four main ways to flex your pivot point calculation skills:

1. Standard
2. Woodie
3. Camarilla
4. Fibonacci.

Pivot Point Trading Tips

Here are some low-key lit tips to help you make those fire pivot point trading calls:

Pivots are totally clutch in forex since a ton of currency pairs usually bounce between these levels. Most of the time, the price vibes between R1 and S1.

You can use these pivot points to catch those price reversals or continuations like a boss.

This means that pivot points can be used by range, breakout, and trend traders who are all about that action.

• Range-bound traders will cop a buy order near the lit support zones and sell when the pair sneaks up to resistance.
• Pivot points also help breakout traders spot those key levels that gotta get smashed for a move to count as a major flex.
• The sentiment (or trend) traders use pivot points to suss out whether a currency pair is hella bullish or bearish.

The chillness of pivot points makes them an essential tool to stash in your trading toolbelt.

They let you see the spots that might cause the price to bounce or dip.

You’ll vibe more with market moves and make smarter trading choices.

Btw, pivot points are just one piece of the technical analysis puzzle. Don’t rely on them alone; that’s not the move.

Level up by using pivot points along with other technical analysis tools like candlestick patterns, MACD crossover, moving averages crossovers, the Stochastic, RSI, etc.

The more confirmation you’ve got, the higher your chances of scoring a successful trade!