OK, anyone willing to comment on this: What's better, using rolling pivots or fixed. For example, should a weekly pivot be base on Mon - Fri, or should you roll it on 5 days. I can think of argument s both ways.
here is the typical p/l curve from using pivots .... this is just pulled from ninjatrader for the past 3 weeks.
unforunately, this day is looking shitty. gotta have a loss sometimes !! keeps you focused and educated ))
hey funky watch out, you're on the verge of teaching someone something actually useful (maybe how to trade off pivots?). better back off now!
Hi All, personally I've always preferred using the fibo tool. The pivot technique probably evolved on the trading floor because traders, not having an 'image' to trade with, could easily remember and use the formula. Using the fibo tool, one is able to project support/resistance and price level targets far in advance, as well as using these same lines for near term trading. Wallace.
It's not a "similar" formula to camarilla I HAVE Camarilla equations formula . I gave freely the RESULTS on my site for one year - as I gave other things like Probability zones - to complement my model results which is an econometric complex model that is quite different from the simplist formula that is Camarilla: Camarilla is just a pivot system it is not a whole cycle theory like my model. As for the formula I don't have right to give it since the author of the formula forbid it. Now it's easy to find it since it is just pivots. As if it valid or not, it depends on what you mean by validity: if you don't know how to trade pivots it wouldn't be more valid than classical pivots all the more so that it conducts often to be in countertrend so that if you want to use it alone you must have a scalper mentality and not hesistate to cut which can be frustrating as usual when the market reverses just on the cutting zone hee hee.
Very convincing Funky. I admit, as some other posters, that I am not too sure about how to use the pivots as a decision mechanism. Would it be possible to describe the decision algorithm underlying pivots? Thank you for commenting.