How to use Pivot Points - Part 2 | Vantage FX
- 11 years ago
Vantage FX (www.vantagefx.co.uk) look at how to use the support and resistance levels generated by Pivot Points
Pivot Points Week
We are looking at a 4-hourly USD/JPY chart, starting on 25 September. Pick the day's high (98.80), the low (98.35) and the close (98.40). Add these 3 numbers together then divide by 3. At the start of business on 26 September, plot the Pivot Points, 3 resistance levels, and 3 support levels.
While you are below the Pivot Point, you would trade between the support levels and the Pivot Point. When you are above the Pivot Point, try to move to the first resistance level. As the day's range on 26 September is much bigger than on the previous day, the support and resistance levels are wider on the 27th.
Pivot Points Week
We are looking at a 4-hourly USD/JPY chart, starting on 25 September. Pick the day's high (98.80), the low (98.35) and the close (98.40). Add these 3 numbers together then divide by 3. At the start of business on 26 September, plot the Pivot Points, 3 resistance levels, and 3 support levels.
While you are below the Pivot Point, you would trade between the support levels and the Pivot Point. When you are above the Pivot Point, try to move to the first resistance level. As the day's range on 26 September is much bigger than on the previous day, the support and resistance levels are wider on the 27th.