Pivots Points are significant levels chartists can use to determine directional movement, support and resistance. Pivot Points use the prior period's high, low and close to formulate future support and resistance. In this regard, Pivot Points are predictive or leading indicators. There are at least five different versions of Pivot Points.
Pivot Points were originally used by floor traders to set key levels. Floor traders are the original day traders. They deal in a very fast moving environment with a short-term focus. At the beginning of the trading day, floor traders would look at the previous day's high, low and close to calculate a Pivot Point for the current trading day. With this Pivot Point as the base, further calculations were used to set support 1, support 2, resistance 1 and resistance 2. These levels would then be used to assist their trading throughout the day.
I use pivot to help me determine the possibly highest and lowest price movement in a day. previously I really confuse how to use this pivot point level because rarely material that discuss or teach about trading with pivot point. but after make hard search, finally I got some good key how to trade with pivot point.
Well am still searching for good and realiable way to trade with pivot so i will actually seek for your posting of some of the strategy you do use here so that I can see if i will be able to derived something positive from there
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