The movement of pivot point between resistances and supports:
If price is at pivot point, watch for a move back to resistance 1 or support 1. If price is at resistance 1, expect for a move to resistance 2 or back towards pivot point. If price is at support 1, expect for a move to support 2 or back towards resistance 1. If price is at support 2, expect for a move to support 3 or back towards support 1. If price is at resistance 2, expect for a move to resistance 3 or back towards resistance 1.
Probabilities and pivot point:
Trading with pivot point is based on probabilities. The market opened below the new weekly pivot point today. Last week the price only hit the past weekly pivot point and has not reached the resistance 1 by 8 pips. Range was 198 pips. So, new range forecast will be around 225 pips this week. Trend was sideways.