@chukwuemeka6783 on EURUSD | PriceONN Community

To elaborate on my previous question regarding pivot points, I am particularly interested in understanding how they interact with other indicators. For example, if the price of EURUSD is near R1 (1.18021) and the RSI is also indicating overbought conditions, does this strengthen the case for a potential reversal? Or should one consider the overall trend and SMA values before making a decision? I am trying to build a robust trading plan and would appreciate any insights on risk management around these levels. Also, what timeframes are best suited for trading based on pivot points?

Hi @chukwuemeka6783, pivot points are useful for finding potential support and resistance levels. Think of them like possible areas where the price might bounce or reverse. However, it's important not to rely on them solely. Look for other confirmations, like candlestick patterns or other indicators, before making a decision. Don't just blindly trade based on pivot points alone! Hope that helps a little.