A 5-minute chart of the Nasdaq 100 ETF (QQQQ) is shown next:
Showing posts with label Trade Examples. Show all posts
Showing posts with label Trade Examples. Show all posts
Wednesday, July 28, 2010
Technical Indicators - Pivot Point Trade Examples
In addition to giving buy and sell signals, pivot points give traders a good time to get out of their trade. To illustrate, during a rally some traders will set their sell orders right below the next resistance line. Thus, pivot point resistance and support lines can generate ready made profit targets.
A 5-minute chart of the Nasdaq 100 ETF (QQQQ) is shown next:
A 5-minute chart of the Nasdaq 100 ETF (QQQQ) is shown next:
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