The pivot point is one of the necessary subjects to learn before starting to do trades. What is the pivot point? The pivot point is the point to calculate the overall movement in the different time frames. The pivot point itself is a sum of High, low and closing prices from the previous day divided by three. PIVOT POINT=Previous high+previous low+previous close/3. In the modern trading way, we have a specified indicator to find it out. No need to calculate Just a click is enough. BREAKING DOWN PIVOT POINT The pivot point is often used in conjunction with calculating support and resistance levels, similar to the trend line analysis. The first support and resistance levels are calculated by using the width of the trading range between pivot point either high or low prices of the previous day. RE-ACTIONARY POINT The pivot point is considered as a reactionary price level. The Prices tend to pause or deflect when the pivot point is initially tested. Combining pivot points with other trading strategy is a common practice with traders. HIT LIKE,COMMENT AND FOLLOW FOR MORE UPDATES. FOREX TRADING / FOREX TRAINING / FOREX ACCOUNT OPENING CONTACT US Mail : [email protected] Skype […]
REASONS FOR WHY THE NZD COULD FALL OVER 100 PIPS. Past week, market focused on escalating trade war tension between US and CHINA. Latter trump warning of a further 10% tariff worth $100billion. Danske bank states the act as,” Trade war becomes a reality as trump pushes further”. However, any developments in the trade war will grab the market attention. Anyhow, this week we will focus on the RBNZ rate decision and GDP releases from the US, UK and Canada. This week RBNZ rate decision will be the main event and it will decide the basic movement in price pair. US and UK final GDP announcements. These announcements will confirm the growth for Q1. Canadian GDP. From April it reporting as growth so, any deviation in the report will be tradeable one. Eurozone flash CPI. Inflation is the ECB’s primary focus. for making euro in stable condition CPI’s a key release for markets. JUNE 27, WEDNESDAY. The primary occasion of the week and likely the feature of the week will be the RBNZ’s June policy decision. At this gathering, the market generally expects the RBNZ to keep policy unchanged. Following Q1 Gross domestic product a week ago, numerous […]
The NZDCAD pair Printing signals in the bear zone with the constant tone. I’ll be looking for price to hit a previous resistance now turned support on the 4 hr time scale. From 0.91470, the price range moved in the sideways for a long-drawn span. After that, the chart printed signals as a reversal pattern. At 0.91053, the market awfully broke the trend as an impulse(shown in the graph). After the price moved into this area, the price range got a chance for two probabilities. By the impact of the trend broke out, signals have enough energy to travel as an impulse to the whole way down. I’ll be looking for bear candles. (shown in the graph) Or else the signals may direct the correction to the top and build a solid base for an impulse (PULLBACK) to jump down (shown in the graph). In case after the correction formation if the signals continued to progress in the bullish trade means, end the trade at 0.91916. SIGNAL SPECIFICATION: Pair: NZDCAD Order: SELL Entry: 0.90698 Pending entry: 0.91157 Take profit: 0.89296 Stop loss: 0.91916 Risk Vs Reward:1.15 —————————————————————————- Our Unique Features: 1. Follow our 15 signals ….10% equity will increase in […]
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