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













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