First lesson is regarding Pivot points

For any Expert traders pivot point information is very necessary. Pivot point ( PP ) Indicator help in Trade entry and stop loss. Below you also find information about Pivot Point ( PP ) Support 1 ( S1 , S2 ,S3 ) And Resistance ( R1, R2 ,R3). You can find pivot points of major currency pairs at the following address:

https://www.investing.com/technical/pivot-pointsPivot Point Calculation Formula,

First open Mt4, MT4 And select D1 Time Frame. and click on Yesterday Candle. Note Previous candle High , Low and Close Point.

Pivot Point { PP } = ( High + Low + Close ) / 3 = Pivot Point

First Resistance { R1 } = ( 2 * Pivot Point ) – Low = Resistance 1

2nd Resistance { R2 } = Pivot Point + ( High – Low ) = Resistance 2

3rd Resistance { R3 } = High + 2 ( Pivot Point – Low ) = Resistance 3

First Support { S1 } = (2* Pivot Point) – High = Support 1

2nd Support { S2 } = Pivot Point – ( High – Low ) = Support 2

3rd Support { S3} = Low- 2 ( High – Pivot Point ) = Support 3

Importance: How important are airports for aero planes or how important are railway station for rail network. As these are stops where vehicle stop refuel and then move ahead. Similarly pivot points are breaks where market usually heads and stops. These pivot points are used for entry and exit of trades. In my next post i shall share pivot point indicator, Inshallah.

Linkback: https://www.forex.zone/forex-education/29/piovt-points/249/