Understand the key levels in the market for effective pivoting from "summary" of Secrets of a Pivot Boss by Franklin O. Ochoa
To effectively pivot in the market, it is imperative to grasp the key levels that play a crucial role in determining market movements. These key levels act as pivotal points that can guide traders in making informed decisions and navigating through the ever-changing market conditions. By understanding these key levels, traders can enhance their ability to anticipate potential price movements and strategize their trades accordingly. One of the primary key levels to consider is the Pivot Point, which serves as a reference point for determining potential support and resistance levels. The Pivot Point is calculated based on the previous day's high, low, and close prices, providing traders with a valuable insight into the market sentiment and trend direction. By paying close attention to the Pivot Point, traders can identify potential reversal points and areas of price congestion, enabling them to adjust their trading strategies accordingly. In addition to the Pivot Point, it is essential to consider...
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