Daily Pivot Point

[budado]

The calculation is different from broker to broker. But the gap is not so big that could hamper our strategy. Besides this there's lots of tools available to make this problem solved. These tools are effective to calculate this pivot point and shown us the support and resistance levels.

The calculation is the same from broker to broker its the indicators that is use you must check. Maybe the reason why one broker site has different daily pivot point is that its using different indicators. I have example of different indicators below that you can you to get pivot points. As you can see its indicators has different results but if you check all broker sites the result will always the same if the indicators that they use are the same.

Name S3 S2 S1 Pivot Points R1 R2 R3
Classic 1.237 1.2372 1.2377 1.2379 1.2384 1.2386 1.2391
Fibonacci 1.2372 1.2375 1.2376 1.2379 1.2382 1.2383 1.2386
Camarilla 1.2379 1.238 1.238 1.2379 1.2382 1.2382 1.2383
Woodie's 1.237 1.2372 1.2377 1.2379 1.2384 1.2386 1.2391
DeMark's - - 1.2378 1.2379 1.2385 - -

[wisam]

but do you know that the value of the pivot point is also very dependent from the time server from the broker you choose. It can affect the value of open and close prices. so choose a broker with a time of generally open and close like instaforex.

I wanted ask my my colleagues here. I'm a beginner. I'm also a bit confused by the use of daily pivot, as the trading price, the difference menggalami, whether the calculation of the formula remains the same as in the examples already as described HCL / 3. or the price difference could not be known in the count with the pivot

[BaHaaFxTr]

I am one of traders who never try the pivot numbers , but i read that thread and i think it would be helpful for me so why u didn't upload the indicator and sharing it with us. another thing why not you sharing strategy based on that indicator it would work i think good based on your words.

[fiztrd]

well i usually depend on the pivot points ..for trading ... at times i put buy at pivot if the market is bullish .. and i put sell if market is bearish ...

also .. i sell at resistance. .. i make sure there is no news .. coming .. up ... and i buy at resistance. ..
last week ..i grabbed more than .. 300 pips .. using this method ... this method ..is dangerous ..too ... i always use the 4h chart so the pivot dont change much ...

[aisfx]

Pivot points are very useful tools that use the previous bars' highs, lows and closings to project support and resistance levels for future bars.

Pivot points are psychological constraints that could make moving through or turning movement at support and resistance levels, we need to consider this in order to analyze the appropriate technical and fundamental news

[FREEDOM]

Pivot Points are used by Forex Traders on a daily basis and are calculated on the previous days move and trades are entered when the market hits a support or resistance line of the pivot point providing your OB/OS indicator is in agreement. All the support and resist lines are put in place 1st thing in the morning. then you wait for the market to hit those entry Points.

yes, we must put the Resistance and Support lines at the morning and use Dailly time frame is better because the price always rebounce after hit one of RnS lines, but if the momentum is strong then it will breakout them.

[erumozor]

Yes this is a good way of trading bcus price always obey this point of trading it is good way of making

[aisfx]

yes, we must put the Resistance and Support lines at the morning and use Dailly time frame is better because the price always rebounce after hit one of RnS lines, but if the momentum is strong then it will breakout them.

Resistance and Support lines are psychological price barrier, often forwarding changes and trends in the leel, and trends change often occurs due to the news that high-impact, so it is better not to open positions before the news

[digger_jim]

I wanted ask my my colleagues here. I'm a beginner. I'm also a bit confused by the use of daily pivot, as the trading price, the difference menggalami, whether the calculation of the formula remains the same as in the examples already as described HCL / 3. or the price difference could not be known in the count with the pivot

The calculation is the same, but the results could be different. Suppose you trade through a broker which server is on GMT+2 time zone, if you follow pivot calculation based on GMT+1, there will be a slight different that might affect your trade (you have to review at least 100 trades and compare them to the same trade possibilities using GMT+1 chart to see the different). Thus, your daily pivot result will be different is you use your broker opening time as a starting point than Tokyo Open (or London Open for that matter). But it doesn't mean Pivot Point is pointless. It simply means you have to adjust your strategy to your pivot calculation. You do that by reviewing your past trades (preferably backtesting trades rather than real account trades).

[budado]

Its good to earn good amount in forex trading if you know the daily pivot point. Because this is how you going to gauge the trend of the pair that you are trading or checking or monitoring in given day. I'm happy that so far each month I do earn 10% to 20% a month in profit just simply because of daily pivot point. If the price is below daily pivot points then that means for me its bearish so I open sell position. If the price is above daily pivot points then I open buy position and so far on average. I do earn 10 to 20% a month not bad.