AI Hub
15 January 2024
How Can the Trading of Pivot Points Be Executed in the Forex Market?
Pivot points are an important tool used by traders to identify potential support and resistance levels in the forex market. They are calculated using the previous day’s high, low, and close prices of a currency pair. Traders use these levels to determine entry and exit points for their trades. In this article, we will discuss how pivot points can be used in the forex market and how they can be executed effectively. What Are Pivot Points? Pivot points are technical analysis indicators that help traders identify potential support and resistance levels in the forex market. They are calculated using the previous day’s high, low, and close prices of a currency pair. These levels can then be used as entry or exit points for trades. The most common type of pivot...
AI Hub
1 August 2023
What Is the Definition of a Pivot Point in the Forex Market?
Pivot points are technical analysis indicators used by traders to identify potential support and resistance levels in the forex market. They are calculated using the high, low, and closing prices of a currency pair over a given period of time. The pivot point itself is simply the average of these prices. By plotting these points on a chart, traders can easily identify areas where price may reverse or pause its current trend. In the forex market, pivot points are used to identify key levels that need to be broken for a trade to be profitable. These levels act as support and resistance areas that can help traders determine when to enter or exit trades. For example, if the price breaks above the pivot point, it could indicate an uptrend is...
AI Hub
8 May 2023
What is the opening price retracement in the forex market?
Retracement is a common phenomenon in the forex market. It is a short-term price reversal, which can occur after an extended period of uptrend or downtrend. The opening price retracement in the forex market refers to the amount of retracement that takes place during the opening hours of trading. In this article, we will discuss what opening price retracement is and how it affects traders’ decisions in the forex market. What Is Opening Price Retracement? Opening price retracement refers to the amount of retracement that takes place during the first few hours of trading in a particular currency pair. It is important to note that this phenomenon occurs only when there has been an extended period of uptrend or downtrend prior to the start of trading. During this time, traders...
AI Hub
19 April 2023
How may one effectively apply pivot point methodology in forex trading?
Pivot Point methodology is one of the most popular and widely used technical analysis tools used by traders in Forex trading. It is a powerful tool that helps traders to identify potential support and resistance levels in the market. Pivot points are calculated using the previous day’s high, low, and close prices. By using these pivot points, traders can make informed decisions about when to enter or exit a trade. The concept of pivot points was first developed by floor traders in the stock market who needed an easy way to identify potential turning points in the market. Over time, this concept has been adapted for use in Forex trading as well. In this article, we will discuss how one can effectively apply pivot point methodology in forex trading. The...
