Hi folks, Rob here. In today's video, we are going to talk about Pivot Points, how they are calculated, and why the act as magnets in the markets.
Pivot points can be plotted on daily, weekly or monthly charts and the formula for calculating them is quite simple:
(High + Low + Close) divided by 3
It's that simple, and in this video you will see numerous examples of how the markets are drawn to these price levels, and how to incorporate pivot points in your trading plan.
THE MOVIE: PIVOTS - THE MARKET'S MAGNET
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Author: Rob Booker, Founder
Company: RobCoin.com, RobBooker.com
Services Offered: Trade Alerts, Robots, Trading Indicators, Podcast, Trading Rooms
Markets Covered: Forex, Futures, Stocks
Rob currently hosts of The Trader’s Podcast (available on iTunes) and is the author of the book “Adventures of a Currency Trader: A Fable about Trading, Courage, and Doing the Right Thing.“