{"id":14922,"date":"2010-11-07T14:24:39","date_gmt":"2010-11-07T19:24:39","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=14922"},"modified":"2010-11-07T14:24:39","modified_gmt":"2010-11-07T19:24:39","slug":"forex-currency-exchange-pivot-points","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/11\/07\/forex-currency-exchange-pivot-points\/","title":{"rendered":"Forex Currency Exchange Pivot Points"},"content":{"rendered":"<p><strong>By James McKee<\/strong><\/p>\n<p>Pivot points are a vital tool in the trader&#8217;s arsenal and can be a  real &#8220;light in the dark&#8221; when you are seeking insight into a possible  trade. Before attempting to utilize pivot points however you must have a  good grasp of support and resistance levels. Support levels are points  at which price decline is continually rejected, and Resistance levels  are points at which a price increase is continually rejected. When  considering both the support and resistance levels together this is  called examining a channel, typically price trends will rise and fall  within the channel for hours or days at a time.<\/p>\n<p>Utilizing support and resistance when trading is typically accomplished  by waiting until after a resistance level has been pushed but not broken  a few times. This enables the trader to determine the likely behavior  of the pair in the near future and determine the best point at which to  enter a trade. The absolute best place to enter a trade is at the bottom  of a bearish candle. Pivot points are ultimately a series of support  and resistance points identified on a chart. Understanding how to  determine which pivot points are relevant to your trading strategy is  key to making a profit.<\/p>\n<p>Of course this is one of those tools that is useless without a proper  stop loss and take profit figure to correspond with the amount of risk  you are willing to take. No strategy is full-proof but identifying,  marking and utilizing pivot points will allow you to make an informed  decision with regard to where you enter a trade. Making a mistake such  as those made without being properly informed can be very costly. Stay  informed and utilize every tool at your disposal, we do not trade for  excitement&#8230;we trade for profit. Keep these things in mind the next  time you go to enter a trade!<\/p>\n<h3>About the Author<\/h3>\n<p>Author is a Forex trader and financial analyst residing in  Denver, Colorado. To stay up to date on all the latest developments in  the financial world and beyond be sure to check out the <a href=\"http:\/\/forex.tradingcharts.com\/foreign_exchange_rates\/\">forex exchange rates<\/a> regularly.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pivot points are a vital tool in the trader&#8217;s arsenal and can be a real &#8220;light in the dark&#8221; when you are seeking insight into a possible trade. Before attempting to utilize pivot points however you must have a good grasp of support and resistance levels.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-14922","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/14922","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=14922"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/14922\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=14922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=14922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=14922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}