Prerequisite: Support and resistance zones
On a small screen, scroll the figure sideways or open it full size.
Read the figure
Prior-session H=112, L=100, C=106 give R1=2P−L and S1=2P−H. These are reference levels, not barriers.
Learning objective
Calculate the classic pivot and first support and resistance levels.
Classic daily pivot P=(H+L+C)/3 uses the previous completed session. First resistance R1=2P−L and first support S1=2P−H. These are deterministic transformations of past prices, not independent observations of demand.
Session boundaries change H, L and C. State the timezone, daily cut-off and treatment of short Sunday bars. A chart using another session can show different pivots without either formula being wrong.
Fibonacci, Woodie and Camarilla pivots use different formulas. Label the method on a journal chart and freeze the prior-session inputs. Test any entry rule separately from the calculation of the lines.
Worked example
If H=112, L=100 and C=106, P=106, R1=112 and S1=100. A later break of R1 is possible; the label resistance cannot prevent it.
Common mistakes
Do not combine different pivot methods without naming them.
Practice
Compute P, R1 and S1 for H=130, L=110, C=120, then compare two session cut-offs.
Sources & further reading
Saved on this device. Export a backup before clearing browser data or changing device.
My learning pathEditorial review: 15 October 2026 · AI-assisted technical review; independent specialist review pending.
Translation available · editorial review pending