These statements come written with great authority from the very bowels of ET. And very recently I might add. 'All trading is based on emotion' Well, that being the case, are we to assume that the large houses, fill their top trading positions with illogical highly emotional people. 'Because trading is emotional then price is not rational' But is not the collation of the output of thousands of Traders (ie price) a rational act in itself. Price is price. 'Pivot points and fibs work because most of the traders use them' Well I thought contracts moved price and the greatest number of contracts are placed by the smallest number of Traders. One strike of 800 contracts is still more powerful than 100 traders placing one contract each. 's&r doesn't work' Who said that it does. Unless s&r is the name of a Trader placing trades, it is just a static horizontal line on a chart. regards f9