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Technical Analysis: Introduction to Technical Analysis and how to become a master trader with Supply and demand/Support and Resistance/Psychological Levels/Pivot Point Strategies/Floor-Trader Pivot
Supply and Supply and demand is a fundamental concept in economics that refers to the relationship between the availability of a particular good or service (supply) and the desire or need for it (demand).When supply is greater than demand, prices tend to decrease, while when demand exceeds supply, prices typically increase. Understanding supply and demand dynamics is crucial for analyzing and predicting market trends and price movements.
Support and Support and resistance levels are key technical analysis tools used by traders and investors to identify price levels where an asset's price has historically had difficulty moving below (support) or above (resistance). Support levels act as a floor, preventing prices from falling further, while resistance levels act as a ceiling, preventing prices from rising higher. Traders often use these levels to make decisions about buying or selling assets.
Psychological Levels: Psychological levels are specific price levels in the market that tend to have a significant psychological impact on traders and investors. These levels are often round numbers or numbers with a high degree of significance, such as $10, $100, or $1,000. Psychological levels can influence market behavior as traders may perceive them as important thresholds for buying or selling. They can act as support or resistance levels and often attract a considerable amount of trading activity.
Pivot Point Pivot points are a popular technical analysis tool used in trading to determine potential support and resistance levels for a given asset. Pivot point strategies involve using these levels to make trading decisions. The pivot point itself is calculated as the average of the high, low, and closing prices from the previous trading period. Traders then use various formulas to calculate additional support and resistance levels based on the pivot point.
Floor-Trader Floor-trader pivots, also known as trader pivots or classic pivots, are a variation of pivot points that were originally used by traders on the trading floors of financial exchanges. These pivots are calculated in a similar manner to standard pivot points, but they often give more weight to the previous day's close and the current day's opening price. Floor-trader pivots are frequently used to identify potential support and resistance levels and to determine trading strategies.
Camarilla Pivot The Camarilla pivot point system is another variation of pivot points that was developed by a trader named Nick Scott. It involves calculating several support and resistance levels based on a given asset's previous day's price action. The Camarilla system defines eight levels, including four support levels (S1 to S4) and four resistance levels (R1 to R4). Traders use these levels to identify potential entry and exit points, as well as to determine stop-loss and take-profit levels.
Woodie's Pivot Woodie's pivot points, named after their creator Ken Wood, are another variation of pivot points used in technical analysis. Woodie's pivot points are based on the previous day's price range and closing price. The formula for calculating Woodie's pivot points gives more importance to the closing price than the high and low prices. Traders use these pivot points to identify potential support and resistance levels and to make trading decisions.
Support and Support and resistance levels are key technical analysis tools used by traders and investors to identify price levels where an asset's price has historically had difficulty moving below (support) or above (resistance). Support levels act as a floor, preventing prices from falling further, while resistance levels act as a ceiling, preventing prices from rising higher. Traders often use these levels to make decisions about buying or selling assets.
Psychological Levels: Psychological levels are specific price levels in the market that tend to have a significant psychological impact on traders and investors. These levels are often round numbers or numbers with a high degree of significance, such as $10, $100, or $1,000. Psychological levels can influence market behavior as traders may perceive them as important thresholds for buying or selling. They can act as support or resistance levels and often attract a considerable amount of trading activity.
Pivot Point Pivot points are a popular technical analysis tool used in trading to determine potential support and resistance levels for a given asset. Pivot point strategies involve using these levels to make trading decisions. The pivot point itself is calculated as the average of the high, low, and closing prices from the previous trading period. Traders then use various formulas to calculate additional support and resistance levels based on the pivot point.
Floor-Trader Floor-trader pivots, also known as trader pivots or classic pivots, are a variation of pivot points that were originally used by traders on the trading floors of financial exchanges. These pivots are calculated in a similar manner to standard pivot points, but they often give more weight to the previous day's close and the current day's opening price. Floor-trader pivots are frequently used to identify potential support and resistance levels and to determine trading strategies.
Camarilla Pivot The Camarilla pivot point system is another variation of pivot points that was developed by a trader named Nick Scott. It involves calculating several support and resistance levels based on a given asset's previous day's price action. The Camarilla system defines eight levels, including four support levels (S1 to S4) and four resistance levels (R1 to R4). Traders use these levels to identify potential entry and exit points, as well as to determine stop-loss and take-profit levels.
Woodie's Pivot Woodie's pivot points, named after their creator Ken Wood, are another variation of pivot points used in technical analysis. Woodie's pivot points are based on the previous day's price range and closing price. The formula for calculating Woodie's pivot points gives more importance to the closing price than the high and low prices. Traders use these pivot points to identify potential support and resistance levels and to make trading decisions.
56 pages, Kindle Edition
Published May 18, 2023
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