
Points To Remember when using Pivot levels
Three most important pivot levels are
Pivot point -P
First Resistance-R1
First Support-S1.
In any NCDEX Commodity opens above Pivot go for Buy with Target of one(or) two point below First Resistance(R1) level and keeping Stop loss of first support (S1).Mostly, First level(S1/R1) of Weekly pivot levels can be reached.
First Fundamental Of Pivot Trading after the opening range (first 15-30 min. to one hour), if price is above/below the Pivot, Price Action will strongly tend to remain above/below the Pivot for the session.
In daily(Intraday) Pivot levels are useful when NCDEX market trading in New Range/Levels.Weekly Pivot levels more likely to useful for Trend Reversal/Breakout points.When NCDEX Market in trading downwards,weekly Pivot levels may give prediciton of Market s downside point/Support/Trend reversal point.
Pivot Points and Support and Resistance levels behave exactly like any historical Support and Resistance level.Pivot Support and Resistance level are 60-80 % merely correlate with Historical support and resistance.
Pivot Points and Support and Resistance levels behave exactly like any historical Support and Resistance level.Pivot Support and Resistance level are 60-80 % merely correlate with Historical support and resistance.
reversal point.