What is the Best Type of Pivot Point | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

best time frame for pivot point 13 replies

Open Trade near Pivot line (Pivot Point) 16 replies

Pivot high - Pivot low MT4 3 replies

Pivot point reference point? 7 replies

Attachments: What is the Best Type of Pivot Point
Exit Attachments

What is the Best Type of Pivot Point

  • #1
  • First Post: Jul 27, 2015 2:09pm Jul 27, 2015 2:09pm
Hello traders, I just came across an article about pivot point trading, and I realize there are may type of pivot points.
They include:

standard pivot point,
Fibonacci pivot point,
camarilla pivot point,
woodie's, pivot point,
DeMark's pivot,

I wish to know the best type of pivot point that I can use for day trading
Thanks
  • #2
  • Jul 28, 2015 1:03pm Jul 28, 2015 1:03pm
None. They are all shit.
  • #3
  • Jul 28, 2015 1:21pm Jul 28, 2015 1:21pm
Quoting oladinpeter
Hello traders, I just came across an article about pivot point trading, and I realize there are may type of pivot points. They include: standard pivot point, Fibonacci pivot point, camarilla pivot point, woodie's, pivot point, DeMark's pivot, I wish to know the best type of pivot point that I can use for day trading Thanks
Add Andrews Pitchfork to your list.
  • #4
  • Jul 28, 2015 1:55pm Jul 28, 2015 1:55pm
The shitlist wouldn't be complete without it.
  • #5
  • Jul 28, 2015 3:18pm Jul 28, 2015 3:18pm
Looks like you might need some of this Olad

Attached Image
  • #6
  • Jul 28, 2015 3:49pm Jul 28, 2015 3:49pm
The thing they have in common is the pivot itself - and THAT is what's important... on a ranging/low volatality day like.... exactly TODAY (EURUSD).

On volatile day all s/r lines are useless but today there is confluence pivot with daily highs + low movement == price bounced like 5 times off of it already.
  • #7
  • Jul 28, 2015 5:21pm Jul 28, 2015 5:21pm
Quoting oladinpeter
Hello traders, I just came across an article about pivot point trading, and I realize there are may type of pivot points. They include: standard pivot point, Fibonacci pivot point, camarilla pivot point, woodie's, pivot point, DeMark's pivot, I wish to know the best type of pivot point that I can use for day trading Thanks
Confluence of those!
  • #8
  • Jul 28, 2015 5:21pm Jul 28, 2015 5:21pm
To be honest pivots are really nothing to do with the market, they are just a mathematical construct, you are better off learning to read a price chart and figure out where selling or buying is taking place. Pivots, forget them.
  • #9
  • Jul 28, 2015 7:18pm Jul 28, 2015 7:18pm
Attached Image
SPC * Swollen PocketZ Crew!
  • #10
  • Jul 28, 2015 7:46pm Jul 28, 2015 7:46pm
I don't use pivot points, but just like any other indicator, there is no best. Everything works sometimes. Nothing works all the time. Do get caught up in curve fitting.
  • #11
  • Jul 28, 2015 7:51pm Jul 28, 2015 7:51pm
Quoting oladinpeter
Hello traders, I just came across an article about pivot point trading, and I realize there are may type of pivot points. They include: standard pivot point, Fibonacci pivot point, camarilla pivot point, woodie's, pivot point, DeMark's pivot, I wish to know the best type of pivot point that I can use for day trading Thanks
Y you want to use them? There is no reason for them to work so don't waste your time instead spot supply/demand levels by your self.
Without an edge MM is useless!
  • #12
  • Jul 28, 2015 7:59pm Jul 28, 2015 7:59pm
what if i told you i tried all these in the past 4 years and none of them works. at least for me.
  • #13
  • Jul 28, 2015 8:45pm Jul 28, 2015 8:45pm
I have not used pivots except for those used to draw pitchforks. I do know many professional traders use pitchforks.

Most "indicators" are lagging whereas pivots seek to predict where price might turn in the future. The nice thing about waiting for price to come to a specific point or near a specific point is that one can observe PA at that point and decide.

Below is a trade I took today. It was demo as pitchforking is a new tool I'm adding to the toolbox. The first chart shows price up against a sliding parallel where price has been rejected previously. I thought it might turn here but waited for H1 candle close with good separation which I got. The second chart shows price hitting my target at a new sliding parallel at the 50 fib.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1July28Tuesday.png Size: 43 KB


Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1July28profittargetreached.png Size: 41 KB
  • #14
  • Edited 1:21am Jul 29, 2015 1:09am | Edited 1:21am
So everybody agrees they are complete BS and have absolutely no relation to price whatsoever. Let alone predict. LoL Any line(s), vertical, horizontal, diagonal or curved will fit price at some point.
  • #15
  • Edited 2:10am Jul 29, 2015 1:32am | Edited 2:10am
By the way. Why is everybody always picking on the trolls? Friendly creatures.
Attached Image
  • #16
  • Jul 29, 2015 3:20am Jul 29, 2015 3:20am
Quoting Anusragger
So everybody agrees they are complete BS and have absolutely no relation to price whatsoever. Let alone predict. LoL Any line(s), vertical, horizontal, diagonal or curved will fit price at some point.
I disagree. I use them and they work well for me.
  • #17
  • Jul 29, 2015 3:40am Jul 29, 2015 3:40am
Quoting merquise
{quote} I disagree. I use them and they work well for me.
So you know how to control risk. That doesn't mean they work.
  • #18
  • Jul 29, 2015 3:45am Jul 29, 2015 3:45am
Everything works if you know how to use it. When I first started trading and moved from system to system, there was one article I read about a trader who was using one moving average to make money, and at that time I just couldn't understand how was he making money using just one MA. Because I tried it and it didn't work for me at that time. Now I understand him.
  • #19
  • Jul 29, 2015 3:47am Jul 29, 2015 3:47am
Quoting Anusragger
So everybody agrees they are complete BS and have absolutely no relation to price whatsoever. Let alone predict. LoL Any line(s), vertical, horizontal, diagonal or curved will fit price at some point.


No, pivots are a useful reference for S/R that many other traders are watching.. and why not.. (H+L+C)/3. But more importantly is the TF used to calculate it. Gives people a common metric for which to discern a reference point in a certain range.

It's just another tool, nothing more. Ask Bob to build a house using just his hammer lmao
  • #20
  • Jul 29, 2015 3:51am Jul 29, 2015 3:51am
Quoting Kong
{quote} No, pivots are a useful reference for S/R that many other traders are watching.. and why not.. (H+L+C)/3. Gives people a common metric for which to discern a reference point in a certain range. It's just another tool, nothing more. But more importantly is the TF used to calculate it.
If you watch a line plotted @ (H+L+C)/3 price will, on average, respect it 50% of the time. Thus 50% of the time it will not respect it. That's fine, but isn't that worth as much as any other random line.
0 traders viewing now