DEFINITION of 'Structural Pivot'
A pricebar formation that gives realtime price signals of support and resistance. When a series of price bars reverses direction, it is considered a structural pivot (not a calculated pivot).
The price bar has an open, high, low and close. The pivot is composed of a minimum of three bars and occurs in every time frame. The pivot lows and highs are used to draw trendlines to show support, resistance and trend direction.
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BREAKING DOWN 'Structural Pivot'
Think of the price pivot as an axis, which is a shaft that supports something that turns. Every pivot is a price turn and shows support (a pivot low) or resistance (a pivot high) for that time frame.
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