using pivot points formula

Pivot Point.

Pivot Points is estimated count support area and resistance. It is each indicator, but as we say technical analysis part, cause for get estimated too with based old time projection. This is the formula:

Pivot point = (H + L + C + O)/4

R1 = (2 x P) – L

R2 = P + (H – L)

S1 = (2 x P) – H

S2 = P – (H – L)

The Symbol O, H, L, C and P are Open, High, Low, Close and Pivot. On candlestick graphic, R and S are Resistance and Support.

This is O, H, L, C of GBPUSD use period H1

Open	1,6349
High	1,6349
Low	1,6310
Close	1,6331

So the Pivot becomes:

P = (O + H + L + C)/ 4

P = (1.9984 + 1.9991 + 1.9874 + 1.9900) / 4

P = 1.9937

Sup and Res we get:

Sup 1 = (2 x P) – H

Sup 1 = (2 x 1.937–1.9991

Sup 1 = 1.9884

Sup 2 = P – (H – L)

Sup 2 = 1.9937 – (1.9991 – 1.9874)

Sup 2 = 1.9820

Res 1 = (2 x P) – L

Res 1 = (2 x 1.9937) – 1.9874

Res 1 = 2.0001

Res 2:

Res 2 = P + (H – L)

Res 2 = 1.9937 + (1.9991 – 1.9874)

Res 2 = 2.0064

On graphic, show:

Use Pivot point for:

• If price near to Support, will be bullish, if trend strong down, will be bearish so far.

• If near to resistance, price will be bearish make big range with resistance point, but if trend strong up (usually fundamental factor) so price will be bullish make big range with resistance and than more up so far.