Pivot Points

A pivot point is an indicator that consists of a price level which is calculated as an average of the high, low and closing prices of the previous day.It is used to identify possible Support & Resistance levels and the overall trend of the market, from “bullish” to “bearish” or the other way around, over different time frames.

USE OF PIVOT POINTS

Pivot Points are mainly used in two ways.

The first way that Pivot points are normally used is as intra-day indicators which can be employed alongside other indicators for a more precise prediction. Many traders use pivot point levels for entry or exit points. For example, a common way to use pivot points is to enter the market with a long position when the price is close to S1, setting your stop loss below S2 and your take profit at Pivot Point or R1 and vice versa.

The second way that pivot points can be useful for traders is that they can help traders determine the market trend for that day, so if the price was broken during the day in an upward or downward movement then the market trend is considered to be bullish or bearish respectively.

DAILY PIVOT POINTS​
21 Nov 2019
Pivot Point levels are calculated based on the pricing data of the previous day (T-1):Open, Low, High, and Close.
FOREX
Symbol Closing Price 05/11 S3 S2 S1 Pivot Point R1 R2 R3
EURUSD 1.11033 1.10071 1.105 1.10767 1.11196 1.11463 1.11892 1.12159
USDJPY 108.615 108.22933 108.36167 108.48833 108.62067 108.74733 108.87967 109.00633
GBPUSD 1.28382 1.26064 1.26973 1.27678 1.28587 1.29292 1.30201 1.30906
USDCHF 0.99238 0.98624 0.98767 0.99003 0.99146 0.99382 0.99525 0.99761
USDCAD 1.30713 1.30121 1.30326 1.3052 1.30725 1.30919 1.31124 1.31318
PRESCIOUS METALS
Symbol Closing Price 05/11 S3 S2 S1 Pivot Point R1 R2 R3
Silver 17.801 17.20767 17.34233 17.57167 17.70633 17.93567 18.07033 18.29967
Gold 1502.69 1476.42333 1482.19667 1492.44333 1498.21667 1508.46333 1514.23667 1524.48333
INDICES
Symbol Closing Price 05/11 S3 S2 S1 Pivot Point R1 R2 R3
Nasdaq100 7918.3 7820.3 7863.7 7891 7934.4 7961.7 8005.1 8032.4
S& P500 3003.54 2981.25 2990.96 2997.25 3006.96 3013.25 3022.96 3029.25
Dow 30 26805.06 26498.89333 26608.72667 26706.89333 26816.72667 26914.89333 27024.72667 27122.89333
DAX 12873.98 12703.98 12753.98 12813.98 12863.98 12923.98 12973.98 13033.98