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 DeMark 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.
Price has broken the 1195 support that has turned into a resistance level, wait for the retest of the 1195 area for short reversal setups and see price fall to the next support level at the 1130 area.
This is for educational purposes.
Trades taken from this analysis by a trader are solely at their own risk.
Risk Management plays a huge role in long term ...
looks like NZDCHF wanted to make a final correction
going to play the up move will be looking to close between the 61.8 and 1 then make a final sell move before we make a long term bearish move
the PRZ has been hit
divergence shown
we have broken the trend with moment
the buy has been validated
will buy in on the next correction
*currently waiting for buy in*
$CIB Broke below its sideway range and closed two days below the sma200 after printing a double top this year. Negative sales and eps growth rates. Let's see if the sma200 act as resistance. $44.02
As you can see, shorts tend to be at their highest when the market hits its bottom, and at their lowest when markets hit their top.
We're currently at a value which is second to the ATH number of shorts, and still growing. Either the bottom is already in, or even if we push down one more time, the larger number of shorts will probably support the price as so ...
Not investment advice
My "trading" plan for the next couple of years.
XRP tends to move violently during a 30 day expansion period. It extends to the 4.76 fib extension and then consolidates/corrects for 200 days down 83% to previous all time high. On this chart I've plotted the trend to predict a possible path for XRP.
Fundamentally XRP is utilised mainly in ...
Downside risks have pressured the GBP/USD exchange rate lower for two consecutive weeks. Following a breakout from the senior channel on Thursday, the Pound fell even lower and eventually reached a fresh one-year low - the monthly S2 at 1.2750 mid-Friday. Since then, the pair has been trading with volatility above this monthly support.
Given that the Pound ...
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