Today's Pivots

Once again working like a charm, with all trading below the ES PIVOT of 1134.00 being Bearish and S1 coming in at 1120.00, just 3/4's of a point from the low of the day.

Weekly PIVOT is 1136.33

 

Hmmm. And here I thought it was the simple, exponential, weighted 40d MA.

And you don't see any price support at this level whatsoever?

 

For Dow
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I'm angry because it is undershot by 2 points instead of overshot by 2 points. Generally it is rather overshot.

 

What are you trying to say?

 

I know you elaborated on it before, but I couldn't find this info. Could you please be so kind and explain to me your algorithm of finding pivots that work so great for you. I'd appreciate it very much.
Thanks

 

What I said before. Price provides the support, not the simple/exponential/weighted 40d MA.

 

Are weekly pivots calculated, and used the same way as daily pivots?

Weekly h-l-c/3 ?

thanks

 

I suppose there just the normal floor traders pivots, something everyone should have on their screens when daytrading, imho.

Jep, today was good for them, but they need a lot more confirmation from other "dimensions" to provide the setups I like in ES. Good as general "targets"...the clou here is to know which pivots will hold, because of market geometry & price/time squares.

best
cosmic

 

There've been a couple of threads on the subject. The most recent:

http://www.elitetrader.com/vb/showthread.php?s=&threadid=26385&highlight=pivot

Funky, who brought up the subject originally, provided an Excel ss that calculates the pivots. The link is near the beginning of the thread.

 

I use just a few daytrading technicals such as Fibs, my 3 main MA's, and the Support/Resistance numbers that are associated with the Daily Pivot.

I believe that using all 3 of these concepts together works very well together.