Pivots are last century stuff. There is only two reason they would be relevant. 1) a bunch of people use them 2) Some magic Fibonacci, golden rule, chaos theory, numerical metaphysics. No one takes them seriously anymore. Pivots and level 2 DOM "secret sauces" are so old, but not in a good way. I think maybe when Pivots were not so easily available in charting software, and you hand calculated them, they were more "secret sauce". I stopped using them in 1998. Ditto with Level 2 and all DOM. BUT if you get some value that is worth your limited time, limited effort, then it "works for you", so great.
How do you identify potential areas of support and resistance? https://www.elitetrader.com/et/thre...at-right-here-baby.343012/page-9#post-5391295
The comments below applies to my experience day trading ES. I watched it, and only it, for 22 months, REAL TIME, and traded paper to recognize the patterns. Even in a 30 second bar, a lot of data is lost if you are not absorbing in real time. How a bar paints, is as important as, What it paints. Historical data is only part of the data available. Some believe historical data and back testing captures ALL or ENOUGH of the information of real time action. It does not, imo. Pivots are base on ONLY historical data. Floor traders used to rely on real time data a lot. That is part of how they ruled the roost.
Who are the main players trading the Index Futures Between 4:00 PM to 4:15 PM? Do any Retail traders ever scalp Index Futures during this fifteen minute span?
When I was trading futures, I used pivot lines. We had a strategy based on pivot lines: breakout and pullback. But it stopped working and it was necessary to rewrite the strategy.