Actually, it's a Gann Square, but Fibs would give you the same signal. I was assuming that SocalTrader meant (pivots) in the sense of "intraday turning points", although the starter of the thread, meant pivots, as in traditional floor numbers. So, I'm measuring my retracements from what I interpret as turning points (or pivot points).
I believe the originator of the thread was talking about the pivot levels generated by the previous day's OHLC. If that's not the case, then I took the wrong path.
Yes u are right . Pivot from yesterday close high low , the old method of floor traders.. Seems to be still working very well
Good. That means that all the posts I made aren't off-topic As for the quarter, third, half, two-thirds, three-quarters of Fib, there are a number of threads on that.
Fortuna can you elaborate a little on this, I am very interested to hear what you found. I use the "Balance Point" or Main Pivot, but never got too much into the S1, S2, R1, R2 numbers... PEACE & Good-Specul8ting...
dp, The 9:55 bar.. which touched 1430.. which I show as R1.. the next bar made a higher high.. but would have resulted in a loss.. Is this another entry like the one you referred to??? Do you go long when hitting resistance levels.. or just the pivot and support levels??
I don't know if you've read this or would be interested, but I found it interesting. Basically, he did a test on the pivot points and noted what usually occured when price opened in a certain zone. His study might help you to find the best stop loss and entry points. The link is to his 1st addition, but I believe he has a newer copy out. Detecting Hi Profit Day Trades In Futures Markets...J.T. Jackson Hope this helps...