DislikedThank you for your analysis. As for Pivot Price, it = (H+L+C)/3 (so it is an average price that average high and low is half-weighted, and close price is half-weighted), right? But you have three pivot price, can you explain to me?
Thanks.Ignored
yes ur formula is correct.
I have daily pivot, weekly pivot and monthly pivot. Those are my big areas that i watch out for because once price breaks daily pivot it will go to weekly pivot and once weekly pivot is broken it will go to monthly pivot.
The reason i use pivots is because it is the only incidator that has stood the test of time. It was used by floor traders long before computers were available and are still used by floor traders. So it tends to be a self fulfilling prophecy.