Utilizing Pivot Points Effectively In Forex

Read The Full Article At - Forexsig.com's Forex Education Blog

Pivot points are one of the most essential aspects of many trading strategy & understanding them will make a huge difference in your Forex results. A pivot point is easily defined as "the level at which the market direction changes significantly for the day"

These pivot points are very important support & resistance levels & they are characterized by important changes or shifts in a trend.

Everyday you trade Forex, the market has a high, low & close for the day, you can utilize these previous bars (levels) to predict the support & resistance levels on future bars...more info

Anyone have an opinion on this?

Pivots are almost as good as trendlines, monthly on the daily chart, weekly on the 240 and 60 minute charts and daily on the lower time frame intraday charts!

If you like to know whether you are trading into a strong resistance or support area, pivots fulfills the purpose.

Pivot points are one of the keys to many trading strategies, understanding how to use them is a good step to becoming a successful Forex trader.