Pivot points are a technical analysis tool used in financial markets to determine potential support and resistance levels for a specific time period. Pivot points are calculated using the previous period's high, low, and close prices, and can be used to help traders identify potential entry and exit points for a particular asset.
There are several different types of pivot points, including traditional, Fibonacci, and Camarilla, each with its own formula for calculating support and resistance levels. Pivot points are commonly used by day traders and other short-term traders who rely on technical analysis to make trading decisions.
