Peculiarities of drawing and trading Pivot points
Along with the ability of identifying a prevailing market trend, a beginner trader should be armed with one or two methods of determining resistance and support levels. If the search was successful and the approach works, one can start forming trading strategies and systems. If not, the search should continue. In technical analysis there exist a lot of ways to identify key levels, including diagonal lines and channels, figures and Fibonacci ratios, moving averages, market portfolio, etc. Today, we’re talking of Pivot points.
In fundamental analysis, there’s such a notion as “self-fulfilling prophecy”….
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