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Forex Pivot Points

Traders indulge in trading at Forex, frequently use Forex Pivot Points for trading as
these points help in identifying the related resistance and support level. These
points help in determining the way where the price change will go, for an ongoing
trend. Forex Pivot Points are the objective type of points, despite the other
indicators which are distinct. These points are quite similar to that of the Fibonacci
levels as the majority of traders use and rely on these points, making them self-
fulfilling. Slight difference between the two are, Fibonacci is a bit subjective and
descriptive while FX Pivots are solely objective.
Different traders have to various user preferences for this FX Pivot Points.
However, most of them use the points for sure. Traders who are range-bounded
use these points to reveal the reversal points of the ongoing trend. Breakout
traders who are looking for the critical levels to be broken use FX Pivotal Points for
the same reason. Traders who are willing to use these useful points should get
familiar with the lingo used in it. Pivot Points are represented as the PP in the
chart, whereas R goes for Resistance and S represents Support. A detailed study
should be done regarding FX Pivotal Points types, methods of use and their
implementation in a trader’s tool kit. Without proper knowledge of these
indicating points, it is advised not to use them. Experts consider these FX Pivot
Points to be more useful for short term trading people at FX.

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