Pivot points are those important or critical levels which serve as support or resistance depending on where current price is either up or below them respectively. Pivot points range from Pivot point and span as R1 to R3 at times R4 for resistance and S1 to S3 at times S4 for support…
Pivot point is simply d average of high, low and close or hlc for various time-frames. For eg to find Pivot point for tomorrow, just avg today’s hlc. This is due to fact that hl r those sacrosanct levels that entire trading world wasnt able to breach in d day. C or close was that level where either strength (positive close) or weakness (negative close) prevailed. So in that respect avg of these 3 imp level will definitely lead to a respectable level which will serve as biggest turning point. Look if this post is useful to u…
Also for eg look what happened when tatamotors breached pivot point although that was monthly pivot level (dark black line)
