"Wait for price to either bounce off or break through pivot." Whichever comes last. Ahaaa... damn, and all these years I've been struggling with unlocking the deep secrets of the pivots.
I've been looking for something like this, though I'm suspicious of pivot points. At what point over one of the support or resistance lines is something considered to have "broken-through"? Look at point 7.... would you buy or sell here? It has already broken through that support level a little (about the same amount as it did at point 5), so is it going to go up or down? And why, or example, didn't he cover his short between points 6 and 7 when it starts going back up? Below, it just says "Point 6 to 7 = 65 pips" as if it's so obvious it would have dropped all the way to point 7. Seriously, though, thanks for the link, I'm not trying to give you a hard time, just asking questions about pivot points. The Finn
Hey..I'm not the pivot master...I just found this tool...and I wanted to post it for the guests... Perhaps one of the guests here might illustrate how they find pivot points helpful in Retail Spot Forex... Michael B. P.S. I would prolly use it in a Savantish, non traditional way...I have not really looked at it closely...but I would try to take samples with different times and measure the differences on a spreadsheet...gawd, I can't do anything simple...
I don't see the point, my Top Gun charting software does it automatically for free. I'm sure most other charting packages have this capability. They want $25 for the pivot software??? FxIB Pivot Charts plot pivot lines automatically, directly on the chart! (prices as low as $25.00 USD per month!)