Formula for calculate the daily support and resistance

Posted on April 4, 2011 | Leave a comment

PIVOT POINT = PP

H = PREVIOUS DAYS HIGH
L = PREVIOUS DAYS LOW
C = PREVIOUS DAYS CLOSE

PIVOT POINT: PP = H+C+L / 3

FIRST RESISTANCE : R1 = 2PP – L
FIRST SUPPORT : S1 = 2PP – H
SECOND RESISTANCE : R2 = 1PP + H – L
SECOND SUPPORT : S2 = 1PP – H + L

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