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Pivot Points Calculation Rules in Forex
By Capitalist | November 30, 2009
The pivot point’s calculation rules are the simplest and popular tools in the entire technical analysis in the field of forex market trading. These rules are useful for the traders who would wish to be well acquainted with generic technical analysis. Generally the aim of a pivot point is that, it presents a primary level of resistance where the trend can become bullish.
The resistance level serves as additional points, the limits of trend range or trend breakouts. Floor pivots are very popular as compared to other pivots. The rules used to calculate the floor picot points are as follows:
Pivot) = 3 Resistance (R1) = (2 X P) – L R2 = P + H – L R3 = H + 2 X (P – L) Support (S1) = (2 X P) – H S2 = P – H + L S3 = L – 2 X (H – P)
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