👍Thanks, the look-back to the 80s, and origin story, explains the line between the 'subjective' selection of the PP's schematic and their objective, unemotional use. 👍Btw, today do algos and high-speed bots still operate off of PPs ???
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Pivot point is the average price of last session.i understand . But what is the logic behind R1,R2,S1 S3. Why high low is added in some fashion to pivot point to derive formula This will help me understand the depth of calculation
Traders biggest enemy is trend flipping on A dime(e.g. 1H/lower time frame trend).Trend on 4H chart is the best trend guide for majority of forex traders( if one keeps trades for 2-5 days). By the time trader realizes that trend on daily chart is up, market has already gone up about 3-5 days & if you ask supercomputer for the mathematical odds, computer tells you that odds are negative right from the start.Trend based on the last 5-10,four hourly candles has enough players/juice behind it so that it would not flip on A dime, so trader has decent chance to make something without buying overpriced asset. We seek your wisdom?
What I'm curious about is if a particular indicator/trading strategy yields such a highly profitable result, then why does that same guy even bother to make tons of videos about other strategies claiming to yield the same results? I mean, most people, when they FINALLY find something that works for them, they usually stick to that method because it cost them a lot of time, effort, and money to find the right combination. Why doesn't that rule apply here?
If a gentleman who was trading hundreds of thousands of dollars basically tells me "throw out the fib's and that other crap and focus on basic pivot points" I am inclined to listen.
Unfortunately, I've thoroughly tested the pivots for about a year now with my trading. They tend to be more of a bias indicator then actually support/resistance.
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The problem with pivot points that I can see, is the fact that no two fx brokers have the same prices. So the pivot points will be different with each broker. How do you get around that.
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Haughtiness is not a good look on you. Pivot points are just a tool. Use them or don’t use them, but don’t come in comment sections with your negativity just because you’re too lazy to learn them. I am very successful with them in conjunction with my other tools. Your opinion is subjective at best.
