It seams to me that price action and standard daily pivots are best intraday tools out there. Daily Pivots are the price projection to todays high/Low from the previous two days high and lows action ie Pivot HH0 = (H1- H2)+H1 Pivot LH0 = (H1- L2)+H1 Pivot LL0 = (L1- L2)+L1 Pivot HL0 = (L2- H2)+L1 Do any of you use the standard daily pivots to help create trading situations, if so please share an insight ?
OK Digs go do a search on Yahoo under pivot point calculator and you will find on a MS Excel calculator downloadable file for a calculator. This is site 6. It will give you the main pivot and S1-3 and R1-3. I also calculate the midway points by averaging the two levels wether R or S together and then dividing by 2 to get your mid point between them. Yes I use pivots all the time for trade set ups especially in the open when ES or NQ trade in a gap fill situation MGR - morning gap reversal to a pivot point. Also you can check out John Persons site www.nationalfutures.com hes big on pivots and has some good info there. Pivots and understanding how they are traded against have helped me anticipate market direction much better. Works real good. gw
pivots mentioned by T.D. ( hint ... he is a well known technician) also I think the pivot ideas of the big time trader M. F. ( hint he trades out of nyc) are also worth looking at good luck