Pivot Point analysis is a technique of determining key levels that price may react to. Pivot points tend to function as support or resistance and can be turning points. This technique is commonly used by day traders, though the concepts are valid on various timeframes. There are several methods of identifying the exact points. Common types of pivot points are Traditional, Fibonacci, Woodie, Classic, Camarilla and DM and each type has its own calculation method.
Most use a variation of significant prices such as established highs, lows, opening and closing prices and then apply a calculation to determine these points. They all calculate additional support and resistance levels alongside the pivot points. They can be used to determine when to enter or exit trades or to determine the range of a market. Conservative traders look for additional confirmation before entering a trade. Whether pivot points are used alone or in combination with other techniques, they are a useful tool in a technical trader's toolbox.
Last post: June 13th. See chart.
Review: Price had bounced off resistance suggesting weakness back in the direction of the bear trend.
Update: Price has continued to weaken but is a distance away from breaking and closing below the pivot support of May.
Conclusion: Applying patience and waiting for price to clear support before placing further short trades. ...
EURAUD has hit a crucial price testing point of (1.61454) we have seen rejection at this price two times before. Multiple rejections at a price point indicate a reversal. if we start to see a bullish takeover we will look to take a long position. If we see price rejection and a bearish presence then we will look to take a short position. Could potentially see some ...
The long trade from the break of the diamond pattern has met its target. This weeks early price action has ground up deeper into the target zone, and is now met with WR1 and DR1 resistance. As per the end of last week, R/R is now firmly in the profit taking area, leaving a runner if desired. QT is due which will time well with a move to lower pivots. However a ...
Last post: June 22nd. See chart.
Review: Price was suggesting indecision and a possible pullback in the bull trend back to retest resistance-turned-support.
Update: Price did indeed pullback and is today suggesting a possible I B setup.
Conclusion: We will wait for the daily closing price and then let our community know if a pullback setup is appropriate or ...
Last post: June 24th. See chart.
Review: Price had pulled back to the daily 20sma which was acting as resistance.
Update: Price has bounced off the 20sma and produced a potential bearish engulfing candle suggesting weakness.
Conclusion: Continuing to stand aside until pivot support is cleared and price moves towards 1.3000.
Any comments or questions, do ...
Last post: June 21st. See chart.
Review: Price had triggered our short trade but finished the day bullish.
Update: Price continued to gain strength but is now at the daily 20sma which is acting as resistance.
Conclusion: Applying patience as we look for resistance to hold strong and for the bears to come back in. A break and close below support needed.
Any ...
Last post: May 29th. See chart.
Review: Price was back at the support zone following good bearish moves. We wanted price to clear support and continue weakening.
Update: Price did not break support. Instead, it bounced off support, pulled back to the resistance high, bounced off resistance and is now back at the support zone.
Conclusion: This is very much ...
Last post: June 20th. See chart.
Review: Price had broken through and established a bull trend above the March high.
Update: Recent indecision in the market suggests the much needed pullback is a possibility.
Conclusion: Standing aside and letting price dictate a pullback or a trend continuation. A pullback is preferable.
Any comments or questions, do not ...
Last post: June 14th. See chart.
Review: The bulls had resumed strength in the market but price still needed to break and close above the pivot high.
Update: Price has moved into a mini area of consolidation and so still requires the breakout. This is still very much bullish.
Conclusion: Continuing to apply patience until the breakout is confirmed.
Any ...
Last post: June 19th. See chart.
Review: Price was trading below pivot support but needed an end of day close below support to offer an entry point to go short.
Update: Price closed below support after which we placed our entry order. The short trade was triggered today.
Conclusion: Price has reversed but we expect price to move against us first. Would now ...
Last post: March sixth. See chart.
Review: Price had broken through the daily 200sma but was faced with resistance at 1.3000.
Update: Price did a pop and drop above 1.3000, pulled back to the daily 200sma and since April, price has been bullish and has now broken March resistance.
Conclusion: Applying patience and waiting for the right opportunity to enter ...
Last post: June 14th. See chart.
Review: Price had weakened over 100 pips since bouncing off resistance but needed to break and close below support.
Update: Price is currently trading below support but need to see a close below support by the end of the trading day.
Conclusion: Applying patience to see if the break and close is confirmed which will suggest ...
Last post: June 16th. See chart.
Review: Price had broken through key support but closed within a zonal area and just above the next pivot support.
Update: Price has bounced off support and closed back above the previous support suggesting further strength.
Conclusion: Looking for further momentum with the bulls and close above the round number 80 to place ...
Last post: May 30th. See chart.
Review: Price was very much bullish but faced with the weekly 200sma acting as resistance which caused a pullback.
Update: Price is still faced with the weekly 200sma as resistance but a bullish move on Thursday could give momentum to the bulls.
Conclusion: Standing aside until the resistance zone is cleared and acts as ...
Last post: June 5th. See chart.
Review: Price was being propped up by a pivot support zone and the daily 50sma.
Update: Price has broken through support with an aggressive bearish bar on Friday.
Conclusion: Price is within a support zone that we want to see hold strong. Any further weakness and we will look to cut out of our long trade.
Any comments or ...
Last post: June 10th. See chart.
Review: Price had pulled back to a resistance zone and producing indecision candles, a good sign of exhaustion in the pullback.
Update: Price has weakened over 100 pips today but a break and close of the pivot support is still required.
Conclusion: Standing aside until the low of May is cleared for entry points into the bear ...
Last post: June 12th. See chart.
Review: Price was finding momentum at pivot support.
Update: Bullishness has continued with further moves to the upside.
Conclusion: Applying patience until the breakout before adding long trades.
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