Hi all,
I am new in FX. I wondering anyone could help me on this matter:
how to calculate PIVIOT level, R1, R2, R3 and S1, S2 and S3 Level?
To those using Stop Loss in their trade, how to set the STOP LOSS? any ideal?
i heard someone said, it will set STOP LOSS near to Resistance or Support Level, is that true?
thanks.
Have a look at this webpage it will explain pivot points, it
is best to try the calculations for yourself , then there are plenty
of pivot point calculators about.
This one will explain about Support & resistance lines (levels)
Not necessarily.
It depends on a number of things, including the strategy you’re using, the time frame you’re trading on, how many pips profit you want, the entry price, etc.
If you haven’t done so already, you might want to consider going through the free Babypips school. It explains a lot of this and much more.