Pivots or Swing Highs and Lows- IPivots are essential in many forms of TA- including the TA i mainly use which is Action-Reaction aka pitchforks
Pivots may also be termed swing highs or lows
Pivots and swing highs/lows may be harder to define than one first imagines
I would define a pivot or swing as follows:
A focus of Price Action (PA) which becomes a reversal point
This is important because either a V shape or inverse V in PA does not equate with a pivot/swing
An acute angle in price may become a pivot or swing in hindsight IF it breaks the trend which price was previously moving along
G.R.I. Dec '21
KEY
P1 pivot one - price in uptrend along blue diagonal
P2- becomes a swing high WHEN blue diagonal is broken to the downside
P3- becomes a swing low WHEN yellow diagonal is broken to the upside
P4- becomes a swing high WHEN green diagonal is broken to the downside
P5- becomes a swing low WHEN pink diagonal is broken to the upside
P6- becomes a swing high WHEN purple diagonal is broken to the downside
P7- becomes a swing low WHEN green diagonal is broken to the upside
