by User » Fri Jul 03, 2009 10:17 am
Forum transfer: Submitted by User on January 26, 2008 - 09:48.
P = (H + L + C) / 3
R1 = (P x 2) - L
R2 = P + (H - L) = P + (R1 - S1)
S1 = (P x 2) - H
S2 = P - (H - L) = P - (R1 - S1)
H - high, L - low, C - close for the previous day.
P - represents pivot point, R - resistance levels, S - support levels.
You may use H, L, C values from mid to midnight or from market close to market close NY time.
Pivots are an easy tool, especially when you have so many online calculators to calculate it for you. Once you trade with Pivots couple of times, I'm sure you will like it.