【BTCJPY】20180810 Daily Pivot

For day trading BTCJPY, we use pivots as a guideline. Yesterday (August 9) the market finally found support around 690,000 yen and then turned upward from there.

R2=763,311

R1=745,222

S1=699,722

S2=672,311

※ A pivot is a technical indicator that estimates the price movement for the current day based on the previous day's price movement. Centered on the Pivot Point (PP), draw resistance lines (R1, R2) and support lines (S1, S2) above and below, and use them as trading references.

【Formulas】

Pivot Point (PP) = (Previous day's close + high + low) / 3

Resistance Line 1 (R1) = PP + (PP - previous day's low)

Support Line 1 (S1) = PP - (previous day's high - PP)

Resistance Line 2 (R2) = PP + (previous day's high - previous day's low)

Support Line 2 (S2) = PP - (previous day's high - previous day's low)