Fibonacci Pivot Point Trading Strategy


How to use pivot points indicator for stock trading? Standard or Fibonacci? How to determine entry and exit points?

I found this very useful tutorial which I'll be viewing over and over again, till I master the strategy.

https://youtu.be/bkSS_kPCctQ

Standard of Fibonacci?

- Fibonacci is recommended. 

What can Fibonacci Pivot Point indicator be used for?

- Determine the entry and exit points. 

- Confirm a bullish or bearish trend. 

How to determine the trend?

- When prices are below the pivot point, it is bearish. 

- When prices are above the pivot point, it is bullish. 

How to determine the buy point?

- In a bullish trend, buy when the price touches the centre pivot point, and target the sell when the price reaches R1 or R2. R1 and R2 are the resistance lines above.

- In a bearish trend, sell when the price touches the centre pivot point, and target to buy when the price reaches S1 or S2. S1 and S2 are the support lines below.

What other indicators work well with Fibonacci Pivot Points?

- 200 MA to confirm the trend. 

- Fibonacci Retracement to confirm the entry point. 

What else?

A lot more. View the video over and over again to take notes.

- The rookie trader













Comments

Post a Comment

Popular posts from this blog

Do Traders Make More Money Than Investors

Trading has come to a grinding halt. All my disposable capital is stuck in a market that is not moving up. I can't even buy anymore when they are down. I just have to sit and wait for the day COVID-19 vaccine is available.  That's when the market will shoot up. Now I know why traders cut losses. So I guess I am not a trader but an investor. A long term investor... 12-year investor to be exact. The financial crisis seems to come every 12 years.  I don't have much of 12 years left ahead of me. It's time to become a trader. So... Do Traders Make More Money Than Investors? Basically, both will make as much money. The trader makes the money faster, maybe in minutes, but more stressful. They buy to sell. They cut losses. The investor makes the money slower,  up to decades, but more relaxed. They buy to hold. They hold losses and hope. Source:  https://www.quora.com/Who-makes-more-money-traders-or-investors Adrian's Journal The rookie trader
Read more

Seatrium Limited share consolidation: What are the implications

What are the details and implications of the recent share consolidation for Seatrium Limited? If you are currently holding Seatrium shares after the latest consolidation, here’s what you need to know: Share Consolidation Details: Seatrium Limited (formerly known as Sembcorp Marine) has proposed a 20-to-1 share consolidation. This means that every twenty (20) existing shares you held before the consolidation will be consolidated into one (1) consolidated share. Fractional entitlements will be disregarded, and each consolidated share will rank pari passu with each other.  Trading in the consolidated shares on the Mainboard of the Singapore Exchange Securities Trading Limited (SGX-ST) will occur in board lots of one hundred (100) consolidated shares.  Shareholder Approval: The proposed share consolidation is subject to shareholders’ approval at the upcoming Annual General Meeting (AGM) scheduled for 26 April 2024.  Seatrium will issue a letter to shareholders containing details about the
Read more

Sembcorp Marine Rights Issue - What to do?

I have 3 options:  do nothing  sell the rights  subscribe  1. Do Nothing There is no cash outlay but if I let the rights lapse  I will then see my  stake diluted when the exercise is completed. 2. Sell the rights I can sell their rights in the market, so this option results in cash inflow .  The rights appear on the Singapore Exchange's website as "Sembcorp Marine R". https://sg.finance.yahoo.com/quote/THFR.SI?p=THFR.SI&.tsrc=fin-srch As the rights have an expiry date, the value of the rights will fall closer to the expiry date. 3. Subscribe This involves cash outflow and would entail paying SMM S$1 to get five new shares for each share currently held. This option would be suitable if I have faith in SMM's long-term future. Which should I choose? I want liquid cash to buy other stocks. So maybe I should sell the rights. In that case I must subscribe first! It might not be a good idea to throw good money after bad. Shareholders may wish to think twice before subs
Read more