How to open an FBS account?
Click the ‘Open account’ button on our website and proceed to the Personal Area. Before you can start trading, pass a profile verification. Confirm your email and phone number, get your ID verified. This procedure guarantees the safety of your funds and identity. Once you are done with all the checks, go to the preferred trading platform, and start trading.
How to start trading?
If you are 18+ years old, you can join FBS and begin your FX journey. To trade, you need a brokerage account and sufficient knowledge on how assets behave in the financial markets. Start with studying the basics with our free educational materials and creating an FBS account. You may want to test the environment with virtual money with a Demo account. Once you are ready, enter the real market and trade to succeed.
How to withdraw the money you earned with FBS?
The procedure is very straightforward. Go to the Withdrawal page on the website or the Finances section of the FBS Personal Area and access Withdrawal. You can get the earned money via the same payment system that you used for depositing. In case you funded the account via various methods, withdraw your profit via the same methods in the ratio according to the deposited sums.
A Pivot point is an indicator, which is used in technical analysis. It consists of the middle pivot, two support (S1 and S2), and two resistance levels (R1 and R2).
The Pivot point can determine the overall trend of the market and the key resistance and support levels based on the pivot point calculation. The price above the middle pivot indicates the bullish force, while the price below the middle pivot shows the strength of bears. Also, S1, S2, R1, and R2 may be used as take profit or stop-loss levels.
The pivot point indicator calculates levels automatically. However, if you are interested in the formula, here you are.
We will consider previous highs and lows, so you should know that there are daily, weekly, monthly and Fibonacci pivots. So highs and lows will be considered regarding the period.
At the beginning of the trading session, previous high, low and the closing price are considered to calculate a pivot point for the chosen period. The next step is to sum high, low and close prices and divide them by three. This is the price of the central pivot. Afterward, you can calculate support 1, support 2, resistance 1 and resistance 2.
Support 1 (S1) = (PP x 2) – Previous High;
Support 2 (S2) = PP – (Previous High – Previous Low);
Resistance 1 (R1) = (PP x 2) – Previous Low;
Resistance 2 (R2) = PP + (Previous High – Previous Low).
This is known as a traditional 5-point system. Find out how to calculate Pivot Points
How to use Pivot Point in intraday trading?
Daily pivots are used for intraday trading on M30 and shorter timeframes. They use the previous day’s high, low and closing price. The indicator updates every day.
Weekly pivot points are used for trading on H1, H4, and D1 charts. Here, the previous week’s high, low and closing price are required. They remain unchanged until the start of a new week.
Similarly, monthly pivots are recommended for trading on the weekly timeframe.
Pivot points are widely used in trading futures, commodities, stocks, and currency pairs. Unlike oscillators, these levels are static and give a trader some time to make their trading decisions in advance.
Pivot points may be used as a separate indicator or in combinations with others, such as Fibonacci retracements or moving averages.
2022-11-23 • Updated