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Pivot Points

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10 replies to this topic

#1
Waseem

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    HI Guys,

    Here I am giving you a formula through which you can do a day trading.

    Before writing formula, I will let you know "what is a pivoy point".

    A Pivot point is the price at which the direction of price movement changes. A daily pivot point is calculated using data from the previous trading day. By looking at the high, low and close, you can calculate the next day's pivot point as well as support and resistance levels.

    As you are well aware that market moves on news whether negative or positive so this formula is not guaranteed instead it can help you alot to do day trading and to know how your stock is moving either going up or moving down.

    Here is formula:

    Pivot Point = (H+L+C)/3
    1st Support = (2*Pivot)-H
    1st Resistance = (2*Pivot)-L
    2nd Support = Pivot-((H-L))
    2nd Resistance = Pivot + ((H-L))

    H = High
    L = Low
    C = Close

    I give you an example so that you could know how this formula will work. I take an example of Attock Petroleum share. On March 24th it had the following data:

    High = 385
    Low = 376
    Close = 382

    Pivot Point = (385+376+382)/3 = 1143/3 = 381
    1st Support = 2*381-385 = 377
    1st Resistance = 2*381-376= 386
    2nd Support = 381-((385-376)) = 372
    2nd Resistance = 381+((385-376)) = 390

    If an item takes supports means its on the weaker side and if it resists means getting strong.

    I will again repeat that this formula is not 100% guaranteed but you can do day trading.

    On Monday (March 27th) if APL closes in between 382 to 386 it means it is getting strong. If it closes below 382 and around 377 it means its getting weak.

    I pray for you to have good fruitful result and I also request you to pray for me for good earning too. JazaK ALLAH.

    Regards

    Waseem

    If you are fond of digital photography then pls visit my own web site www.pbase.com/mwtaqi to see my pictures and dont forget to mention your comments whether positive or negative. Thanks
    Take care.

    Regards

    WT


    #2
    AbDuLmAtEeNkHaN

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    Dear Waseem bhai Bravo Thank you so much what a detailed one and easy to remember also .... JazakAllah khair ... hope to see more ..... Once again JazakAllah .....

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    #3
    saqib

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    View PostAbDuLmAtEeNkHaN, on Mar 26 2006, 07:58 PM, said:

    Dear Waseem bhai Bravo Thank you so much what a detailed one and easy to remember also .... JazakAllah khair ... hope to see more ..... Once again JazakAllah .....
    hardwork to do it manually ...........enjoy this calculator :) 44kb
    Here is a link: http://d.turboupload.com/d/514793/PivotCal...-06-05.exe.html
    A study of markets usually reveals that the best

    time to buy anything is yesterday

    #4
    alam

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    View Postsaqib, on Apr 15 2006, 02:30 PM, said:

    hardwork to do it manually ...........enjoy this calculator :) 44kb
    Here is a link: http://d.turboupload.com/d/514793/PivotCal...-06-05.exe.html

    Function available in AMI. I am sure it is in Metastock too.

    Regards

    M.Alam

    #5
    LEO

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    Also available pre-calculated on the following links for the selected scripts:

    http://www.scsecurit...t/technical.asp (for Top 50 Volume Leaders).
    http://www.ecltrade.com/2005/financialanal....asp?show=pivot

    regards,
    LEO.

    #6
    alam

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    View PostLEO, on Apr 15 2006, 07:47 PM, said:

    Also available pre-calculated on the following links for the selected scripts:

    http://www.scsecurit...t/technical.asp (for Top 50 Volume Leaders).
    http://www.ecltrade.com/2005/financialanal....asp?show=pivot

    regards,
    LEO.

    Also on KHISTOCKS.com and ksestocks.com. I guess now it is becoming standard for any stock based website.

    regards

    M.Alam






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