Yeah, we had some nice ones today. One was about 7.25 to about 8.25 on ES. I bet there was a pile of corpses in that zone.
To me, the value of pivot points are in their Predictive value. Example: If you are below the pp your bias is/should be to go short. So if you short say the ES what is your objective? S1....bingo. Take the profit, if desired, now once you get to S1 what is your objective? To see what price does at S1...then either get out if it goes sideways, stay short if it starts eyeballing S2, etc.....etc,,...etc.... The day is pre-planned for you.....mix in a moving avg cross, other pattern recognition etc and have fun. Forget oscillators of all sorts since there is no trading during ranges. (or if you do just buy support and sell resist since these spots are now your pivot points. What a game...
Victors just go to Google and google pivot point calculator and there are sites to do it for you. just have the close, the days high, the days close. Some folks like to redo the pivot points with the open of the new day, that is subjective.....
Have a look at this. It may be of some help. Every day a new forecast. You can subscribe to the service for free: an email will be sent to you every day. PS: The pdf has nothing to do with currencies even though the name suggests so.
Damn I wish I would have witnessed this post 3 months ago. What an epiphany! We can all research general areas instead of specific points. Why hasn't anyone else thought of that?