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​
20 May 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 17/05 S3 S2 S1 Pivot Point R1 R2 R3
EURUSD 1.11564 1.1117 1.1136 1.11462 1.11652 1.11754 1.11944 1.12046
USDJPY 110.053 108.93567 109.21433 109.63367 109.91233 110.33167 110.61033 111.02967
GBPUSD 1.27148 1.25987 1.26549 1.26848 1.2741 1.27709 1.28271 1.2857
USDCHF 1.01083 1.0052 1.00686 1.00884 1.0105 1.01248 1.01414 1.01612
USDCAD 1.34607 1.33469 1.33907 1.34257 1.34695 1.35045 1.35483 1.35833
PRESCIOUS METALS
Symbol Closing Price 17/05 S3 S2 S1 Pivot Point R1 R2 R3
Silver 14.406 14.198 14.296 14.351 14.449 14.504 14.602 14.657
Gold 1277.63 1257.93333 1266.39667 1272.01333 1280.47667 1286.09333 1294.55667 1300.17333
INDICES
Symbol Closing Price 17/05 S3 S2 S1 Pivot Point R1 R2 R3
Nasdaq100 7499.4 7346.26667 7420.13333 7459.76667 7533.63333 7573.26667 7647.13333 7686.76667
S& P500 2859.18 2810.08333 2830.48667 2844.83333 2865.23667 2879.58333 2899.98667 2914.33333
Dow 30 25769.25 25295.78333 25462.31667 25615.78333 25782.31667 25935.78333 26102.31667 26255.78333
DAX 12192.66 11969.16 12055.66 12124.16 12210.66 12279.16 12365.66 12434.16