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i use pivot points,it is very useful to trade,sometime pivot points placed precisely to the fibo points,however i never combine to trade,pivot points is best
can you explain how to trade pivot points? Do you just use the default indicators to find out the pivot points?
i use the pivot point mt4 indicator with camarillla weekly levels ,when both the levels meets,that level is best support and resistance.
Thank geeveeyemvaradarajan for sharing technique to find support and resistance zone by combine weekly camarillia pivot point with pivot point.
Pivot Points, one of the basic and most important technical tools and the important one, is in the was used long before the era of computerized trading. The mathematical calculation of various support and resistance levels, based on the high, the low and the closing prices of the previous period, was initially used by floor traders in order to trade efficiently.
Contrary to the popular perception, pivot points don’t only calculate various support and resistance levels, but also offer some valuable trading strategies.
Furthermore, various types of PPs help traders in capitalizing on the movement of different currency pairs.
Moreover, using only Pivot Points for confirmation is not enough for making a wise trading decision.
It should also be backed by other things.
I Wish You Happy Trading