Pivot Points for Intraday Trading

• Sat, Mar 4, 2023
• 2-minute read

Pivot Points for Intraday Trading

Face 2 Face CPR

What is CPR ?

• Price Action Indicator.

• TP, P & BP provides range.

• 

• CPR indicator has 3 Levels

  • Top Central Pivot( TCP)
  • Central Pivot Point (Pivot)
  • Bottom Central Pivot (BCP)

[!INFO]+ CPR Uses

• CPR used to
  • Foresee the movements in stock price.
  • Predict trend.
  • Gives support & resistance.

Types of CPR

Characteristics of Wide & Narrow CPR

Wide CPR

Narrow CPR

Using CPR

• Long if chart above CPR.

• Short if chart below CPR.

• Three lines narrow → Trending Market.

• Three lines wide → Sideways Market.

• Above CPR → Long.

• Below CPR → Short.

[!EXAMPLE]+ Which Chart to use with what Indicator

• Use 5 minutes chart for intraday.
  • Daily CPR indicator for daily CPR.
• Use 1 Hour chart for Positional.
  • Weekly CPR indicator for weekly.
• Use daily Chart for longer / Swing trades.
  • Monthly CPR

• Use CPR by KGS on trading view.
• Disable everything except daily pivots + prev day high & low.
  • PDH & R1 are twins.
  • PDL & R2 are twins.
• 

POSITIONAL OPTION SELLING

• Use 1 hour chart with weekly CPR for option selling.
  • Above CPR → Bullish → Bull Put Spread
  • Below CPR → Bearish → Bear Call Spread
  • On CPR → Iron Condor.

• While taking position, when cpr is under the first 1hr candle ( or chart for weekly ) then it is bullish signal.
• So we put bull put spread.
• SL & Pre Wk Low are twins.
• I take mid-point & sell it then lower strike buy to hedge it will.
• SL should be 1:1 though RR won’t be 1:1. Hold till expiry.

[!QUOTE]+ Easy to remember by MD Consider as CPR spring board. ♨️ Over spring jump up.⤴️👆 Under spring fall down.⤵️👇

Bear Call 🐻

• When CPR over chart.

Bull Put 🐂

• When CPR under chart.

Bull Put 🐂 vs Bear Call 🐻

Iron Condor

Statistics

• Class By Mr. Gomathi Shankar.

• PivotPedia by Neeraj Jangid

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#Investments💷/Trading-Indicator📊

Reference