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thanks in advance, im not to good at readin' charts.
keithsan
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i'm not good at slang....?
Ktrain420
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hey keith, on like barchart it says at the bottom pivot point and resistance etc.....just wonderin' what pivot point means???
SmokingUSA
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Learning Center Pivot Points
The pivot itself can be used as somewhat of a test price for the short-term trend. The pivot point represents a weighted average of the previous day's session since it is the average of the high, low and settlement. If the market rallies above the pivot point, for example, the market may be indicating some strength. A weak market would be suggested by a price move below the pivot point.
Pivot points are used primarily as support/resistance numbers. Of the first pivot values, the pivot point itself is the best support/resistance level. The 1st and 2nd support/resistance levels have less reliability. All these pivot numbers are very popular on the exchange floors and are used by a significant number of traders. Pivot points are used in our technical indicators.
[This message has been edited by SmokingUSA (edited December 08, 2004).]
Ktrain420
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thanks for the info smokin'
Ktrain420
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sorry if ya didn't follow me Keith.......READING.........i will spell it out for ya from now on
keithsan
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Isn't Pivot point basketball, I just dont use the terminology nor have i read about it. I use barcharts for hi lows and volume.
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