Steven662_ King#6

View translation

What are pivot points in forex trading?

Pivot points are technical levels used to identify potential support and resistance areas. Calculated from the previous day’s high, low, and close, pivot points include the main pivot line (P), along with support (S1, S2, S3) and resistance (R1, R2, R3) levels. Traders use them to plan intraday trading strategies: buying near support and selling near resistance. Pivot points are popular among day traders because they provide objective reference levels that many market participants monitor. When combined with candlestick patterns or momentum indicators, pivot points help filter entries and exits. However, like all tools, they work best when used with other confirmation methods rather than in isolation.