Pivot Points are a type of support and resistance levels that are used by many intraday and short term traders. When trading pivot points, many of the same rules are in force as with other types of support and resistance trading techniques.
Many traders keep a watchful eye on daily pivot points, as they are considered to be key levels at the intraday timeframe.
Forex pivot points are calculated horizontal price levels on the chart. These levels show potential areas where the price can reverse,