A pivot point is a technical analysis indicator used in financial trading, particularly in the forex market, to determine potential levels of support and resistance. It is calculated based on the previous day's high, low, and closing prices of an asset, and can be used to identify potential turning points in market trends.
Pivot points are often used in conjunction with other technical indicators and chart patterns to help traders make informed decisions about when to enter or exit a trade. They are a popular tool among traders due to their simplicity and effectiveness in identifying potential levels of price action.
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