What are the best pivot points strategies for trading cryptocurrencies on TradingView?

3 answers

• Abhinandan ChoudharyNov 04, 2023 · 2 years ago
  Sure! Pivot points are a popular tool used by traders to identify potential support and resistance levels in the market. One strategy is to use pivot points to determine entry and exit points for trades. For example, you can buy when the price breaks above the pivot point and sell when it breaks below. Another strategy is to combine pivot points with other indicators, such as moving averages, to confirm signals. Remember to always do your own research and consider the overall market conditions before making any trading decisions.
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• Leelasri ANov 08, 2020 · 5 years ago
  Well, pivot points can be a useful tool, but it's important to remember that they are not foolproof. Market conditions can change quickly, and pivot points alone may not always provide accurate signals. It's a good idea to use pivot points in conjunction with other technical analysis tools and indicators to get a more comprehensive view of the market. Additionally, it's crucial to set stop-loss orders to manage your risk and protect your capital. Don't solely rely on pivot points for your trading decisions.
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• Fit ImpactFeb 06, 2022 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, recommends using pivot points in your trading strategy. Pivot points can help you identify key levels of support and resistance, which can be used to make more informed trading decisions. By combining pivot points with other technical indicators, such as the RSI or MACD, you can increase the accuracy of your trading signals. Remember to always practice proper risk management and never invest more than you can afford to lose. Happy trading!
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