The most common pivot points are based off the previous day’s range. Pivot point trading is ideally suited for intraday traders. It is widely used not just in the forex markets but also in the commodity markets as well as stocks. Trading with pivot points has come a long way since the days of floor traders. You only have to install the pivot point indicator and drag it onto your charts and let the indicator do all the work for you. Now a days, with electronic trading platforms and advanced charting tools, the pivot point indicator does all the hard work for you.
These were traders who would trade in the trading pits and had to manually calculate the pivot levels for the day ahead. In the early days of trading, pivot points were used mostly be floor traders. Alerts In Real-Time When Divergences Occur
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