Task: plotting pivot points (10)
Now it’s your turn. At this point of the course we have set a task to reinforce what we’ve shown you. This task will require you to use a charting package to carry out the exercise. You can set up a free practice trading account with access to charts here.
Goal: To see if pivot points have acted as support or resistance historically.
Exercise: On a daily chart of any security add pivot points. These will cover the current month. Look back over the last few months and see when the various points acted as a material support and resistance. Where is the price now relative to the current pivot points, on a basic level what might that indicate about the trend?
Time to complete: 10 minutes
Solution….don’t press play until you’ve done your bit: