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Pivot Points - What hour do you calculate from?

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  • What time do you calculate Pivots Points from?
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  • Post #1
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  • First Post: Aug 7, 2007 9:06am Aug 7, 2007 9:06am
  •  Hagbard Celine
  • | Joined Aug 2006 | Status: Aspiring Market Sniper | 133 Posts
I have been using pivot points for a few months now and really liking the effect they've had on my short term trades. Before I knew any better, I was only using the indicators as they were, which usually meant they calculated from 0:00 GMT. After some more reading, I discovered that a lot of Forex traders supposedly calculate from the end of the New York trading day, or 17:00 EST (5:00 PM, which should be 21:00 GMT if I'm correct). I found using these points were equal, if not marginally better, than what I'd been using. At least for the majors, the crosses, I'm not sure about yet.

Basically, I just want to get a feel what you guys use to see if it correlates to my ongoing research.

EDIT - I just realized that I accidentally put 5:00 EST instead of 17:00 EST for the close of New York. Sorry for any confusion that may cause, but I can't figure out how to edit the poll.
  • Post #2
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  • Last Post: Aug 7, 2007 9:22am Aug 7, 2007 9:22am
  •  mirdaniel
  • | Joined Jul 2007 | Status: Member | 84 Posts
Quoting Hagbard Celine
Disliked
I have been using pivot points for a few months now and really liking the effect they've had on my short term trades. Before I knew any better, I was only using the indicators as they were, which usually meant they calculated from 0:00 GMT. After some more reading, I discovered that a lot of Forex traders supposedly calculate from the end of the New York trading day, or 17:00 EST (5:00 PM, which should be 21:00 GMT if I'm correct). I found using these points were equal, if not marginally better, than what I'd been using. At least for the majors, the crosses, I'm not sure about yet.

Basically, I just want to get a feel what you guys use to see if it correlates to my ongoing research.

EDIT - I just realized that I accidentally put 5:00 EST instead of 17:00 EST for the close of New York. Sorry for any confusion that may cause, but I can't figure out how to edit the poll.
Ignored
Yes pivot points are very important. 17:00 EST is correct for the daily pivot or 0:00 on my chart at least (some brokers are differents). www.bestvistadownloads.com , search in that site and you will get the calculator. In this forum, specially on USD/JPY, dove_alliance is using them very well and edxplain them too, he is a pro, some others traders too. You will learn a lot by watching their threads.
 
 
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