Fibonacci pivots are commonly used in
FOREX trading. The PP is calculated the same as Classic Pivots
however the support and resistance levels are calculated by the
multiplying the daily mean by Fibonacci levels 38.2%, 61.8% and
100%.
R3 = Pivot + 1.000 *
(HIGH-LOW)
R2 = Pivot + 0.618 *(HIGH-LOW)
R1 = Pivot + 0.382
* (HIGH-LOW)
Pivot = (HIGH + LOW + CLOSE) / 3
S1 = Pivot -
0.382 * (HIGH-LOW)
S2 = Pivot - 0.618 *(HIGH-LOW)
S3 = Pivot
- 1.000 * (HIGH-LOW)
.
.gif)