Pivot Point

Hi,

Now i learn some technical analysis, Pivot Point.

The calculation for a pivot point is shown below:
Pivot point (PP) = (High + Low + Close) / 3

Support and resistance levels are then calculated off the pivot point like so:
First level support and resistance:
First support (S1) = (2*PP) – High
First resistance (R1) = (2*PP) – Low

Second level of support and resistance:
Second support (S2) = PP – (High – Low)
Second resistance (R2) = PP + (High - Low)

Open price over pivot point is bullish and below pivot point is bearish. Maybe some body can teach me how to use this pivot point. Where to entry and where to exit. The important is to know the TA an more important is to know how to use it.

Adion.