Fibonacci Pivot Points

Pivot Points are leading indicators calculated based on today's high low and close price of a Stock to get next trading day's support and resistance levels. These are widely used by the traders for entry and exit into a trade.Unlike Classic Pivot Points, Fibonacci Pivot Points uses Fibonacci ratios to determine support and resistance levels. The most common and widely used Fibonacci ratios are 38.2%, 61.8% and 100% though some traders even use 50% as well. The strategy is simple, if a long (buy) position is initiated near the Pivot Point, the targets would be 38.2%(R1), 61.8%(R2) and 100%(R3). Similarly, if a short (sell) position is initiated, the targets would again be -38.2%(S1), -61.2%(S2) and -100%(S3).

DISCLAIMER- THE ABOVE CONTENT IS GIVEN ONLY FOR THE PURPOSE OF INFORMATION/KNOWLEDGE SHARING BUT NOT FOR ADVISORY. INVESTMENTS IN CAPITAL MARKETS/STOCKS ARE SUBJECT TO PRICE FLUCTUATIONS AND MARKET RISKS. PLEASE CONSULT YOUR INVESTMENT ADVISOR BEFORE TAKING TRADING/ INVESTMENT DECISIONS.

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