Hi, I am reading the book "Candlestick and Pivot Point Trading Triggers" (John L. Person) and building my own system have a terrible doubt , please! I know that I have to use the prior Pivot Point (PP) for the current day. How about the current week and current month? 1) Do I have to use the PP of January in February, PP of February in March, and so on? 2) Or could I use the last 21 days excluding the current trade day to build the current monthly PP ? Thank you in advance for your answers.
==================== 1]No & pay more attention when different months pp are same 2]Yes; & weekly, mo, 50 day,yearly pp can be helpful. But non of that is as important as position size/market...........................................