It helps to have a map and be able to see where the price is relative to previous market action. In this way, we can see how the sentiment of traders and investors at any given time, it also gives us a general idea of ​​where the market is heading during the day. This information can help us decide which way to trade.
Pivot points, a technique developed by floor traders, help us see where the price is relative to previous market action. The pivot points can serve as a good entry point.
_____WEEKLY____
Weekly - R3 = 1.6058
Weekly - R2 = 1.5916
Weekly - R1 = 1.5750
Weekly Pivot = 1.5608
Weekly - S1 = 1.5442
Weekly - S2 = 1.5300
Weekly - S3 = 1.5134
_____MONTHLY____
Monthly - R3 = 1.6786
Monthly - R2 = 1.6458
Monthly - R1 = 1.6080
Monthly Pivot = 1.5752
Monthly - S1 = 1.5374
Monthly - S2 = 1.5046
Monthly - S3 = 1.4668
