Probability Statistics For Pivot Points

The floor pivot points have always managed to fascinate me with their predictive capabilities. I do not explicitly use them to take any kind of trading decisions; however, I keep them handy to get some idea of the current price action.  Curiously, I have noted that the price action respects the pivot levels on most of the days.

A couple of days ago, I came across this article.

In this article, the author Jamie Saettele has managed to highlight certain interesting pointers about the floor pivot points.

He shows the number of times as well as the % of the time, each of the floor point pivot levels have managed to make the price reverse. Please be aware of the fact that he takes into account of the EUR/USD pair only; and that too for a predefined number of trading days.

Traders who are interested in learning more about the floor pivot points should definitely look into this article.


EUR/USD Update: Volatile Trading Leads To Prices Surging Higher

Prices first pushed lower to take out last week’s low, before aggressively spiking higher, revising much of the prior downward leg. It seems likely that the bulls will be in control over the short term.1.1255 is the next upside target, with 1.1070 as support.

Certain noteworthy support and resistance values for the traders to bear in mind while placing their trades:

R5    1.1710 (24/August/2015 High)
R4    1.1560 (26/August/2015 High)
R3    1.1495 (15/October/2015 High)
R2    1.1375 (11/Feb/2016 High)
R1    1.1255 (15/Feb/2016 High)

S1    1.1070 (26/Feb/2016 High)
S2    1.0945 (9/March/2016 Low)
S3    1.0820 (10/Mar/2016 Low)
S4    1.0780  (21/Jan/2016 Low)
S5    1.0710 (5/Jan/2016 Low)

EUR/USD Update February 04, 2016

The breakout continues with the EUR/USD making newer highs every hour. 1.1305 is the next upside target for the bulls and all those who missed this money-making opportunity should try to initiate longs at around 1.1060.

Resistance and Support Levels For Traders

R5 1.171 (24 August High)
R4 1.156 (26 August High)
R3 1.1495 (15 October High)
R2 1.135 (22 October High)
R1 1.1305 (19 October Low)
S1 1.106 (15 December High)
S2 1.0985 (15 January High)
S3 1.081 ( 29 January Low)
S4 1.078 (21 January Low)
S5 1.071 (5 January Low)
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