【BTCJPY】20181113 Daily Pivot

As a guideline for day trading BTCJPY, we check the pivot. Yesterday (November 12) touched around 720,000 yen but later selling momentum strengthened, forming a bearish candlestick. The market closed around the area where the 25MA sits, near 720,000 yen.

R2=729,748

R1=724,696

S1=715,796

S2=711,948

※ A pivot is a technical indicator that forecasts the price movement for the day based on the previous day's price action. Centered on the Pivot Point (PP), resistance lines (R1, R2) and support lines (S1, S2) are drawn above and below, and these are used as trading guidelines.

【Calculation Formula】

Pivot Point (PP) = (previous day close + previous day high + previous day low) / 3

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

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

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

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