Finmax experts talk about Forex pivot point calculator
“Thanks to the trend reversal point, users have the opportunity not only to fix the profitability of previously opened deals, but also to significantly increase the effectiveness of new trading positions”, - say Finmax experts.
Analysts emphasize that there are various ways to identify pivot points. Most often, experts use ranges with several levels of support and resistance. It is also worth paying attention to long-term charts with target levels that were encountered earlier and influenced the trend. Technical indicators will help here, which will indicate the oversold and overbought levels of the price, the depth of a possible rollback.
It will be much easier for ordinary traders to determine a possible pivot point using a special calculator. This tool, available on the platform, allows you to take into account all possible scenarios. Thanks to this, everyone can plan the most profitable trading plan for the day. The official Finmax website has detailed instructions on how to use this tool in order to correctly determine the pivot point.
Do you want to know more about the broker's offers? Read the Finmax expert review on our portal.