I've got such confusion since got interested in pivots. My weekly pivot indic. Uses sunday close as Closing price for calculation.
But logic says that pivot should be calculated for period between weekly open and weekly close. [If I trade for example Ozzie stock, I wouldn't use EST time to calc pivots as it would bring pivot change in a middle of a trading day].
What are your opinion on that? Did anyone compared two ways of calculation?
Any thoughts?
Thanks
But logic says that pivot should be calculated for period between weekly open and weekly close. [If I trade for example Ozzie stock, I wouldn't use EST time to calc pivots as it would bring pivot change in a middle of a trading day].
What are your opinion on that? Did anyone compared two ways of calculation?
Any thoughts?
Thanks