Embrace the concept of pivot range and its significance in trading from "summary" of Secrets of a Pivot Boss by Franklin O. Ochoa
In trading, understanding the concept of the pivot range is crucial for success. The pivot range is a key level derived from the previous day's high, low, and close, and it serves as a critical reference point for market participants. By embracing the pivot range, traders can gain valuable insights into market sentiment and potential trading opportunities. The pivot range consists of three levels: the pivot point, the upper pivot range, and the lower pivot range. The pivot point is the central level, which represents the average of the previous day's high, low, and close. The upper pivot range is calculated by adding the high minus the low to the pivot point, while the lower pivot range is calculated by subtracting the high minus the low from the pivot point. These levels provide traders with a clear framework for understanding ...
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