Location of wrist cock hinge

[ChrisNZ]

Where is the hinge (not in the hinge action sense) between the club and the left arm - is it the left wrist, the number one pressure point, or (less likely I think) the number 3 pressure point?

Obviously the left wrist is where the cocking action actually occurs, but does the part of the handle in the left hand (or even both hands, but less likely) go down or up when this occurs (if that makes sense)?

Edit: what I actually mean is the pivot point I think.

Thanks,
Chris