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What is the Best Type of Pivot Point

  • #41
  • Jul 30, 2015 5:41pm Jul 30, 2015 5:41pm
One of my favorite setups to take have to do with the opening range. I use the Daily open line (Indicator attached) and use the range that develops as a pivot point for Support/Resistance and breakout trades, all depending on the context of the market.

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File Type: ex4 DailyOpenLine.ex4   8 KB | 555 downloads
File Type: mq4 DailyOpenLine.mq4   3 KB | 618 downloads
  • #42
  • Jul 30, 2015 5:46pm Jul 30, 2015 5:46pm
It sounds simple, but that is the point, it is a price action based technique. Other people like to use different opening times, I like the ETH (electronic trading hours) session. Others may like to use the London opening range.
  • #43
  • Jul 30, 2015 6:05pm Jul 30, 2015 6:05pm
pivots work , but you have to buy when there is a trend and price dips to the pivot ... by trend i dont mean looking at the overall down trend chart whilst price has been rising the past couple of days .. you have to see price falling in the recent trend as well as the bigger picture ... its complicated , but if you put in the effort to go through historical price action (pivots are leading indicators) then you will be able to make a successful system out of it .. i know because i have tested it and i have a profitable system using only pivots .. however , the issue is that that pivot system is not good enough for me because it requires a lot of waiting for there to be a trend , then price to perfectly come to the pivots , etc. etc. so it doesnt suit my trading personality in terms of greed . for me making money is not a concern. i have account statements where i transformed my 6k loss into 13k winner over 1-2 years depositing just $700 per month and doing some short-term trading ..it may be a good objective to make profits but not for an undercapitalized joe ...
  • #44
  • Jul 30, 2015 8:01pm Jul 30, 2015 8:01pm
I think....talking about pivot, much see "what is price action talk for you" in area level the pivot line or snr
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The Average Discount Everything
  • #45
  • Jul 30, 2015 8:25pm Jul 30, 2015 8:25pm
Quoting TrdngProdigy
It sounds simple, but that is the point, it is a price action based technique. Other people like to use different opening times, I like the ETH (electronic trading hours) session. Others may like to use the London opening range.
Although the "start time" makes a bit of a difference, the reality is if you use pivots and you have understanding of price action you will notice that the most efficient way to trade will be taking profit at daily pivots, and taking entries at daily pivot accumulation..
  • #46
  • Jul 30, 2015 11:20pm Jul 30, 2015 11:20pm
Quoting PaulAdrian
{quote} Hello OladinPeter. I have decided to create and account to share some information about pivots with you. Although, there are any types of Pivots, one of the most interesting things you will find to be "true" about pivots is if you trade using DAILY pivots, starting from mid-night Spain time 1 hour and 14 mins ago, the high and low of that trading day ALMOST 100% of the times is at a DAILY pivot. Many people will contend that pivots are useless, but that is because nothing can tell you when you should buy or sell. Just because it...
Thanks
  • #47
  • Jul 30, 2015 11:29pm Jul 30, 2015 11:29pm
Quoting garryforex
pivots work , but you have to buy when there is a trend and price dips to the pivot ... by trend i dont mean looking at the overall down trend chart whilst price has been rising the past couple of days .. you have to see price falling in the recent trend as well as the bigger picture ... its complicated , but if you put in the effort to go through historical price action (pivots are leading indicators) then you will be able to make a successful system out of it .. i know because i have tested it and i have a profitable system using only pivots .....
Thanks Garry.
  • #48
  • Edited 1:01am Jul 31, 2015 12:47am | Edited 1:01am
Just plot a horizontal line where price is the moment you start up your platform. Doesn't that make more sense than any calculation based on the past.

Another use of the ignore button is to get rid of prophets, precogs, psychics, seers, clairvoyants and the delusional.
  • #49
  • Jul 31, 2015 4:46am Jul 31, 2015 4:46am
Quoting merquise
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.

I just use the RSI.
  • #50
  • Jul 31, 2015 6:17am Jul 31, 2015 6:17am
Quoting Anusragger
Just plot a horizontal line where price is the moment you start up your platform. Doesn't that make more sense than any calculation based on the past. Another use of the ignore button is to get rid of prophets, precogs, psychics, seers, clairvoyants and the delusional.
Delusional with profit.

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  • #51
  • Jul 31, 2015 6:53am Jul 31, 2015 6:53am
Quoting Winston Reed
{quote} Delusional with profit. {image} {image}
Good trading! Congrats. You could however draw more lines on every other bar and call them retests too, if it suits the fork. The market is going up and passes your fork. It holds and thinks: "Hold it, what was that bump I just felt? OMG it was Winston's fork, back it up, NOW, time to go down!"
  • #52
  • Jul 31, 2015 7:05am Jul 31, 2015 7:05am
Quoting Anusragger
{quote} Good trading! Congrats. You could however draw more lines on every other bar and call them retests too, if it suits the fork. The market is going up and passes your fork. It holds and thinks: "Hold it, what was that bump I just felt? OMG it was Winston's fork, back it up, NOW, time to go down!"
It is common for bullies to make fun of what they don't understand. Your comments only highlight your profound ignorance.
  • #53
  • Jul 31, 2015 7:19am Jul 31, 2015 7:19am
Quoting Winston Reed
{quote} It is common for bullies to make fun of what they don't understand. Your comments only highlight your profound ignorance.
Again, not making fun, not bullying. Please stop accusing me of such things. Just illustrating the market doesn't care about your fork.
  • #54
  • Jul 31, 2015 9:52am Jul 31, 2015 9:52am
I think in order to proof "Which pivot is the best" we should use one currency (EUR/USD) and post snapshots daily of all the pivots prior to London open, and then again once US market closes.
  • #55
  • Jul 31, 2015 10:23am Jul 31, 2015 10:23am
Opening range S/R pivot today for the Eur/Usd

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  • #56
  • Jul 31, 2015 12:43pm Jul 31, 2015 12:43pm
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
Just for the sake of argument, some of the "best" pivots are:

1. Initial balance (opening range)
2. Commercial capping levels
3. Value Area High
4. POC
5. Value Area Low
6. Naked POCs.
7. High volume nodes
8. Low volume nodes
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #57
  • Edited 4:49pm Aug 2, 2015 3:45pm | Edited 4:49pm
Hello. Here is the new Daily pivot levels for GU. Please note that in 23 hours from now, when the new calculations are done, the high or low will be at or very near one of the 7 pivots which you see below.
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  • #58
  • Aug 4, 2015 3:10pm Aug 4, 2015 3:10pm
This thread is full of win
  • #59
  • Nov 28, 2015 9:38pm Nov 28, 2015 9:38pm
The efficiency of everything depends upon that how you use it. None of them is holy grail and not all of them are garbage. The importance of Pivots, MAs, Momentum indicators will always be their.

 

  1. If Pivots cannot give you a trade but they can save you from a bad trade. Who will like to buy on High point of daily/weekly/monthly and sell on Low point of daily/weekly/monthly??
  2. Its not always true that Price will take a turn from an SR area. But in fact, its important to analyse that how Price is reacting to a particular SR area.

Forex; the game of movements not the game of candles.
  • #60
  • Apr 3, 2016 6:20am Apr 3, 2016 6:20am
Quoting Winston Reed
{quote} It is common for bullies to make fun of what they don't understand. Your comments only highlight your profound ignorance.
Dear Mr. Winston Reed,
Is it any pitchforking indicator available to use?
Regards,
Yavari
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