Privacy Policy

Personal identification information

We may collect personally identification information from Users in a variety of ways, including, but not limited to, when Users visit our site, fill out a form, and in connection with other activities, services, features or resources we make available on our Site. Users may be asked for, as appropriate, name, email address. Users may, however, visit our Site anonymously. We will collect personal identification information from Users only if they voluntarily submit such information to us. Users can always refuse to supply personally identification information, except that it may prevent them from engaging in certain Site related activities.

Non-personal identification information

We may collect non-personal identification information about Users whenever they interact with our Site. Non-personal identification information may include the browser name, the type of computer and technical information about Users means of connection to our Site, such as the operating system and the Internet service providers utilized and other similar information.

Web browser cookies

Our Site may use “cookies” to enhance User experience. User’s web browser places cookies on their hard drive for record-keeping purposes and sometimes to track information about them. User may choose to set their web browser to refuse cookies, or to alert you when cookies are being sent. If they do so, note that some parts of the Site may not function properly.

How we use collected information

www.fahmnyonline.com collects and uses Users personal information for the following purposes:

- To personalize user experience We may use information in the aggregate to understand how our Users as a group use the services and resources provided on our Site. - To improve our Site We continually strive to improve our website offerings based on the information and feedback we receive from you. - To improve customer service Your information helps us to more effectively respond to your customer service requests and support needs.

How we protect your information

We adopt appropriate data collection, storage and processing practices and security measures to protect against unauthorized access, alteration, disclosure or destruction of your personal information, username, password, transaction information and data stored on our Site.

Sharing your personal information

We do not sell, trade, or rent Users personal identification information to others. We may share generic aggregated demographic information not linked to any personal identification information regarding visitors and users with our business partners, trusted affiliates and advertisers for the purposes outlined above.

Third party websites

Users may find advertising or other content on our Site that link to the sites and services of our partners, suppliers, advertisers, sponsors, licensors and other third parties. We do not control the content or links that appear on these sites and are not responsible for the practices employed by websites linked to or from our Site. In addition, these sites or services, including their content and links, may be constantly changing. These sites and services may have their own privacy policies and customer service policies. Browsing and interaction on any other website, including websites which have a link to our Site, is subject to that website’s own terms and policies.

Advertising

Ads appearing on our site may be delivered to Users by advertising partners, who may set cookies. These cookies allow the ad server to recognize your computer each time they send you an online advertisement to compile non personal identification information about you or others who use your computer. This information allows ad networks to, among other things, deliver targeted advertisements that they believe will be of most interest to you. This privacy policy does not cover the use of cookies by any advertisers.

Google Adsense

Some of the ads may be served by Google. Google’s use of the DART cookie enables it to serve ads to Users based on their visit to our Site and other sites on the Internet. DART uses “non personally identifiable information” and does NOT track personal information about you, such as your name, email address, physical address, etc. You may opt out of the use of the DART cookie by visiting the Google ad and content network privacy policy at http://www.google.com/privacy_ads.html

Compliance with children’s online privacy protection act

Protecting the privacy of the very young is especially important. For that reason, we never collect or maintain information at our Site from those we actually know are under 13, and no part of our website is structured to attract anyone under 13.

Changes to this privacy policy

www.fahmnyonline.com  has the discretion to update this privacy policy at any time. When we do, we will revise the updated date at the bottom of this page. We encourage Users to frequently check this page for any changes to stay informed about how we are helping to protect the personal information we collect. You acknowledge and agree that it is your responsibility to review this privacy policy periodically and become aware of modifications.

Your acceptance of these terms

By using this Site, you signify your acceptance of this policy. If you do not agree to this policy, please do not use our Site. Your continued use of the Site following the posting of changes to this policy will be deemed your acceptance of those changes.

Introduction to Pivot Points

Pivot Points, one of the basic and most important technical tools and the important one, is in the was used long before the era of computerized trading. The mathematical calculation of various support and resistance levels, based on the high, the low and the closing prices of the previous period, was initially used by floor traders in order to trade efficiently. The indicator was strong enough to be considered for included in technical analysis, resulting it to be and as a result you can find it present in the majority of trading platform. The basic use purpose of Pivot Points (PP) is to determine the important support and resistance levels. It is also used to determine market sentiment: as during the trending market,when the market is trending prices would will fluctuate from support PP to resistance PP, while in times of whereas when the market is directionless or ranging market, prices usually fluctuate around two PPs until a breakout happens. If prices are trading above the pivot point it is considered to carry bullish sentiment, while trading below the pivot point usually suggests indicates bearish sentiment. Moreover, Pivot Points are also an important technical tool for placing trade orders.

Calculation

Although there are several methods for calculating Pivot Points, the most common of them is the Standard Pivot Point system. It uses the simple arithmetic average of the high, the low and the closing prices of the previous trading period in order to determine the Pivot Point, i.e. the very base for calculating various support (S) and resistance (R) levels. Daily PPs are usually calculated based on the New York closing time, i.e. 16.00 EST (22.00 CEST).

Pivot point (PP) = (High + Low + Close) / 3

First resistance (R1) = (2 x PP) – Low

First support (S1) = (2 x PP) - High

Second level of support and resistance:

Second resistance (R2) = PP + (High - Low)

Second support (S2) = PP - (High - Low)

Third level of support and resistance:

Third resistance (R3) = High + 2(PP - Low)

Third support (S3) = Low - 2(High - PP)

Types of Pivot Points

This mathematical calculation applies only to Standard PPs.. With the invention of computerized trading a lot of other PPs have been developed to assist traders:

Standard PP indicators: The very basic Pivot Point calculation starts with the Standard PP Indicators that are identical to the ones described above. These Pivot Points are the corner stone for the rest of the PP calculations. Even though the Standard PP is very helpful, it still has its own limitations as it is a mathematical calculation that sometimes misses the important support and resistance levels. In the example below, we can see six potential Standard PPs plotted on a EURUSD H1 chart.

Fibonacci PPs: Fibonacci Pivot Points are an extension of the standard PPs where Fibonacci multiples of the high-low differential are considered to form various support (S) and resistance (R) levels. You can calculate the Fibonacci PPs in the following way:

Pivot Point (PP) = (High + Low + Close)/3

Support 1 (S1) = P - {.382 * (High - Low)

Support 2 (S2) = P - {.618 * (High - Low)

Support 3 (S3) = P - {1 * (High - Low)

Resistance 1 (R1) = P + {.382 * (High - Low)

Resistance 2 (R2) = P + {.618 * (High - Low)

Resistance 3 (R3) = P + {1 * (High - Low)

In the example below, we can see six potential Fibonacci PPs plotted on a EURUSD H1 chart. Even though the Fibonacci levels are blend with Pivot Points, these Fibonacci PPs are unable to mark all the important support and resistance levels.

Hourly PP: These pivot levels are accurate enough for smaller time frames and can help traders capitalize on the little movements of the pair. Hence, Hourly Pivot Points are mainly used for Scalping. The Basic Calculations are as simple as the standard time frame but in this case the high, the low and the closing prices of the previous hour are considered in plotting various support and resistance points. In the example below, we can see six potential Hourly PPs plotted on a EURUSD M15 chart. We can see that major supports and resistances took place near the Hourly PPs, which proves the importance of this indicator. Due to the perfection in smaller timeframes, these PPs become less helpful while plotting on higher time frames (Daily, Weekly, Monthly, etc).

WOODIE Pivot Point: While all the mentioned PPs consider only the high, the low and the closing prices for calculation, Woodie Pivot Points consider all the four indicators for movement: open, high, low and closing prices. High and low prices usually show the extreme moods of traders and hence fail to mark the important levels. Open and closing prices are considered to represent traders’ intentions more accurately, which makes Woodie Pivot Point popular among traders. The following EURUSD M15 chart describes major support and resistance levels covered by the Woodie PP. Despite all the advantages, the simplicity of the Woodie PP makes it less famous than, for example, Camarilla or Murray Math PP. In addition to that the Woodie PP doesn’t propose any strategy as other advanced PP do, which also makes it less useful for big banks and professional traders. 

Murrey Math PP: One more technical indicator based on the Pivot Point is Murrey Math. It tackles with a lot of limitations of Standard, Hourly and Fibonacci PPs. and is widely used by professional traders and big banks. The indicator is divided into eight lines that mark multiple support and resistance levels. It also mentions the major reversing point (Line 4/4) and the Ultimate Support and Ultimate Resistance lines (line 0/8 and line 8/8 respectively). As you can notice on a EURUSD M15 chart below, the major support and resistance levels are covered by the Murrey Math PP. The indicator divides the chart in nine equidistant lines, from the bottom are at the levels 0/8, 1/8, 2/8, 3/8, 4/8, 5/8, 6/8, 7/8 and 8/8. The mentioned PP lines can indicate when to go long/short as well as important stop-loss and take profit points.

Camarilla: Camarilla is one more advanced PP indicator which helps traders in Scalping and Day trading. It is also one of the renowned technical indicators for professional traders at big financial institutions and banks. It is a price-based indicator for defining the trading levels. Each point calls for specific actions and hence becomes different from the rest of the PPs. The mentioned PP lines can indicate when to go long/short as well as where important stop-loss and take profit points are. You can calculate various levels with Camilla Technical Indicator in the following way:

H5 = (High/Low) × Close

H4 = Close + RANGE × 1.1/2

H3 = Close + RANGE × 1.1/4

L3 = Close – RANGE × 1.1/4

L4 = Close – RANGE × 1.1/2

L5 = Close – (H5 – Close)

The following H1 EURUSD chart describes how Camarilla marked the important support and resistance levels together proposing important trading strategies.