Monthly Pivot Levels - September 2013
"Pivot Levels" (also known as Floor Trader Pivots) refer to an array of support and resistance levels that are extrapolated from the high, low and close of the prior period. That is, the support and resistance levels have not necessarily been observed and tested but are instead derived from price action. Traders use them as guideposts to potentially important price areas.
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Written by Stanley Dash, VP, Applied Technical Analysis, TradeStation.
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