Pivot points are technical indicators used by traders to identify potential support and resistance levels in the market. They are calculated based on the previous day's high, low, and closing prices and provide key reference points for traders to make trading decisions.
What is pivot in the stock market?
In the stock market, a pivot refers to a significant price level that is used by traders as a reference point for determining market direction. Pivot points are calculated using mathematical formulas and are considered important levels where price action may reverse or continue.
How do pivot points help traders?
Pivot points help traders identify potential entry and exit points for trades. They serve as reliable indicators of support and resistance levels, allowing traders to set stop-loss orders and target prices more effectively. Additionally, pivot points can help traders gauge market sentiment and make informed decisions about their trading strategies.
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