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Pivot Point Levels
The Pivot Point strategy includes seven technical levels: three resistance levels, three support levels and the actual pivot point level. The three most important pivot points are Resistance 1, Support 1 and the actual pivot point. If the market opens above the pivot point, then the bias for the day is bullish. If the market opens below the pivot point, then the bias for the day is bearish. By the time the market reaches Resistance 2, Resistance 3 or Support 2, Support 3, the market will already be overbought or oversold and these levels should be used to leave the market rather than enter.