Pivots continued...So we continue on from the previous pivot post, I have now worked out all the levels and shown you the formula to do this for yourself. These levels like I said in previous post are great for when you are trading intraday, they can work as trade points or used to put stop losses the other side off. S3 and R3 are notoriously tough to break, you can watch price usually turn around at these levels and return back to the pivot and lower support or resistance levels. Pivots enable good risk reward when trading and offer good chances of safer trades... For example a sell just under the pivot you could use a stop loss just above the pivot and aim for S1, this has a good probability aswell as offering a nice reward for our risk. Happy trading :) more breakdowns and strategies coming soon. ZenFlo is out.
