Are these two things the same? if not can someone explain how they differ?
Many Thanks
J
Are these two things the same? if not can someone explain how they differ?
Many Thanks
J
what i know is that when you launch fibonacci, you can also see the support and resistance, also the pivot.
Pivot points (or levels) are [I]examples[/I] of support and resistance. They are usually based on the previous day’s high, low and close, although longer-term traders may also use the previous week’s, or month’s or even year’s. Babypips has a calculator that spits out pivot points for whatever timeframe you want to use (Pivot Point Calculator: Free Online Calculations of Forex Pivot Points). However, pivot points aren’t the only forms of support and resistance. Hope that makes sense.
Thanks Kevin, Much appreciated.
Looking to do daily trading to be honest. Spent couple years looking at lower timeframes with no luck but already having better luck with daily candles. Plus I dont have to be at my computer as much.
Yeah, trading off the daily timeframe is much more easier. Good luck!
cheers
think im gonna use Heikin-Ashi to help me out as well