The green line is the pivot point (P).
The red lines are resistance levels (R1, R2, R3).
The blue lines are support levels (S1, S2, S3).
Saturday, October 31, 2009
Understanding Pivot Points Using Charts.
Generally speaking, the pivot point is seen as the primary support or resistance level. The following chart is a 5 minute chart, where:
The green line is the pivot point (P).
The red lines are resistance levels (R1, R2, R3).
The blue lines are support levels (S1, S2, S3).
The green line is the pivot point (P).
The red lines are resistance levels (R1, R2, R3).
The blue lines are support levels (S1, S2, S3).
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nice and simple explanation, try to post more about pivot points trading
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