12/09
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Using Pivot Points To Enter The Forex Market
Pivot Points are being used more and more by forex traders and are an excellent tool for calculating entry and exit points as well as levels for Stops. Pivot Points are super sized-support and resistance levels that are calculated from the price action from the previous day. The reason these levels are superior to Fibonacci levels is because there is no subjectivity involved in calculating them. For example, when choosing a range to mark Fibonacci levels one person may choose a range from the one hour and another person might choose a different range all together which would result in 2 different sets of support or resistance's.
Pivot points, however, are based on the High, Low, and Close of yesterday's price action....(login to view article)
