What time do you calculate daily pivot points in forex?
Me asked:
So much confusion, is it at 12 am EST or at 5 PM EST? When do most people do it and which times are the best to calculate pivots?
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So much confusion, is it at 12 am EST or at 5 PM EST? When do most people do it and which times are the best to calculate pivots?
February 27th, 2009 at 9:05 am
You just need to calculate daily pivots once a day. The best time to do it really depends on your strategy. If you start trading for example at 8am EST, you can calculate yesterdays pivots at this time.
The only important thing is to calculate pivots after the rollover period on your broker.
February 27th, 2009 at 5:06 pm
Pivot point is a level in which the sentiment of traders and investors changes from bull to bear or vice versa.They work simply because many individual traders and investors use and trust them. The Pivot Points update time (in EST). The Daily Pivot Points are calculated at 5:00 PM EST each day using the previous 24 hour period. If calculating the pivots on Friday (for use on Sunday and Monday), it is recommended to use 4:00 PM EST, instead of 5:00 PM EST; Why? Your particular FOREX broker may close the market earlier than 5:00 PM EST on Friday; if this happens there is no value for 5:00 PM EST which causes the indicator to NOT display.