forex day trading strategy

Pivot point trading strategy is a potent strategy for traders in all markets from equity to commodity. So they are equally relevant for forex trading. Pivot points are calculated from the highs and lows of the previous period. The points thus obtained are plotted as resistance and support. Pivot values can be derived for various periods like monthly, weekly, daily and even hourly.

The forex market is now home for many types of traders. There are the professional, savvy traders who are experts in this field and have been in the business for a long time. However there are some newcomers who are just the ordinary people wishing to try their hand at making a small profit.