Many successful day traders use support and resistance in their trading approach since technical indicators have limited value on the shortest time frame charts. Pivot Points are the preferred way to determine that support and resistance for many of those traders.
Now DailyFX offers some of the most popular methods to identify Pivot Points in order to make it easier for you to use them in your trading approach. To find these important levels, you first click on the Technical Analysis button at the top of DailyFX.
You then click on the Pivot Points button and this is what you will find.
The Pivot Points in four different time frames are calculated for you to easily incorporate into your trading approach. But you will also find a couple of other popular methods of determining these levels on that same page. Camarilla Pivot Points use a complicated method of calculation to display levels of support and resistance and no middle Pivot Point. Woodie’s Pivot Points, while very similar to the classic Pivot Points, give more importance to the Closing price of the previous period of time. You will also find the Open, High, Low and Closing prices in each time frame for easy reference. This is just another way that DailyFX is trying to help as many traders as possible improve their trading results.
Clear here to Use the Pivot Point Table.
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