I use the Thunder Bowl Index (TBI)of the morning dump. If it floats it's an up day. If it sinks it's a down day. If it's mixed it's a confused day. Missed todays read since I accidentally covered with paper and didn't care enough to fish around.
Pivot Point = (Previous High + Previous Low + Previous Close) / 3 I can see the pivot maybe being potentially useful, in that it's a sort of average price for the day. For R1 and S1 where does the multiplier 2 come from I wonder? Resistance Level 1 = (2 * Pivot Point) - Previous Low Support Level 1 = (2 * Pivot Point) - Previous High
I use the pivots for cash session. Although I am not a heavy pivot trader and don't really put too much emphasis on them.