You might want to read and watch some You Tube video's on: Day Trading with Pivot Points Strategy
* Always use 5 minute time frames to do the following:
Previous days: High, Low & Close
Pivot Point (P)= (High + Low + close) divided by 3
Support 1 (S1) = (P x 2) – High
Support 2 (S2) = P – (High – Low)
Resistance 1 (R1) = (P x 2) – Low
Resistance 2 (R2) = P + (High - Low)
Yes, you can put a 3rd Support and Resistance on your charts, if you would like too. I can't put a 5 minute chart here (so PRETEND), noted 15 mn is a 5mn one.
* Always use 5 minute time frames to do the following:
Previous days: High, Low & Close
Pivot Point (P)= (High + Low + close) divided by 3
Support 1 (S1) = (P x 2) – High
Support 2 (S2) = P – (High – Low)
Resistance 1 (R1) = (P x 2) – Low
Resistance 2 (R2) = P + (High - Low)
Yes, you can put a 3rd Support and Resistance on your charts, if you would like too. I can't put a 5 minute chart here (so PRETEND), noted 15 mn is a 5mn one.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.