Unlocking the power of trading pivots reveals how traders can combine price pivots patterns with the floor trader’s pivots to enter trades on binary options, futures and forex.
Unlocking the Power of Trading Pivots
Gail shows you how to identify price pivot patterns to identify whether a pivot line is acting as support or resistance. The floor trader’s pivot lines, which are standard in most trading platforms, consists of five horizontal lines that are based on the prior day’s price movement. They are:
- Resistance 2 (R2)
- Resistance 1 (R1)
- Pivot line (midpoint area)
- Support 1 (S1)
- Support 2 (S2)
Combining these potential areas of support or resistance with the pivotal price action provides traders with a simple and effective way to execute trades in this area. Gail also explains simple entries, stop rules, and profit taking rules in the video course.