TraderHouse Pivots Fibonacci

TraderHouse Pivots Fibonacci

A pivot point is a technical analysis indicator, or calculation, used to determine the overall trend of the market over different time frames. The pivot point itself is simply the average of the high, low, and closing prices from the previous trading day.

Fibonacci retracement levels are horizontal lines that indicate the possible locations of support and resistance levels. Each level is associated with one of the above ratios or percentages. It shows how much of a prior move the price has retraced. The direction of the previous trend is likely to continue.