Yearly pivots are among my top favourite tools.
Nearly all the major reversals or rallies stop or turn at yearly pivots.
You can also use them as targets when you see price is heading or is close to yearly pivot. It will surely hit it.
You can observe it for yourself on this EURUSD chart.
When price is above yearly pivot target R1 if below target S1. Watch also Yearly Midpivots (they are also very important).
It is good to use long term moving averages along with yearly pivots to detect the long term trends.
To apply yearly pivots use - choose "pivot points standard" then choose yearly classic, set period to 2 last years, unclick R3 S3 as price rarely makes it those (unless it is a super volatile pair).
For mt4 you can download free indicator "yearly pivots".
Good Luck!
Nearly all the major reversals or rallies stop or turn at yearly pivots.
You can also use them as targets when you see price is heading or is close to yearly pivot. It will surely hit it.
You can observe it for yourself on this EURUSD chart.
When price is above yearly pivot target R1 if below target S1. Watch also Yearly Midpivots (they are also very important).
It is good to use long term moving averages along with yearly pivots to detect the long term trends.
To apply yearly pivots use - choose "pivot points standard" then choose yearly classic, set period to 2 last years, unclick R3 S3 as price rarely makes it those (unless it is a super volatile pair).
For mt4 you can download free indicator "yearly pivots".
Good Luck!