any relationship between day trading and pivotpoint

Discussion in 'Technical Analysis' started by robinxing, May 25, 2007.

  1. I believe there is some relationship between them

    but I do not know what is it

    could someone give me some help

    thank you
  2. KS96


    At the pivotpoint, flip a coin.
    Heads go long, tails go short.
  3. We use the pivot points of the futures in our entry/exit decisions during the day in this way: We consider the "trading troughs" between Pivot and R1* or S1, S1 and S2, etc. to be "mini" support/resistance levels. They tend to be a self fulfilling prophecy since the large futures traders on the floor (and off) tend to "stall" at these particular levels.

    We don't necessarily use the individual stock pivot points, we merely consider the overall market trading "range" or "level" along with other indicators.

    All the best,

  4. I found usually the open of next day is between the r2 and s2 of pivot

    if the open of next day is greater or less than the r3 or s3

    it is hard for trend following systme to grasp profits
  5. The opening only strategy does not really take into consideration pivot points, unless you happen to be in the trade more than a few minutes. We are only betting that the Specialist will make money on his opening trade, and we simply want to be assured we are on the same side of the trade as he is.