Jan 2021 - Lesson of the month

Weekly floor trader pivots are a mathematical calculation based on the previous weeks High, Low and Close.

As a day trader, we can utilize the positioning of these pivots as potential support, resistance and even direction for a given week.

In the picture on the left, price action hovered around the key Weekly pivot point, which many traders will use as the center of the “see-saw”. If price starts to trade above it, then a bullish move is anticipated. If price trades below it, a bearish move is anticipated.

The start of the week showed several wicks through the level and held for the entire Monday. This set the tone for the rest of the week, along with other odds enhancers, to indicate a strong bull move was expected throughout the week.

Our strategy teaches how to use floor trader pivots as an odds enhancer for intra-day plays, along with higher time frame biases to provide a “road map” for the week or month ahead.