Pivot points

This is a discussion on Pivot points within the First Steps forums, part of the New Traders category; Hi yes you can. In fact its a very sensible idea to check weekly and monthly charts for pivot points ...

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Old Dec 12, 2010, 3:22pm   #9
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Hi

yes you can. In fact its a very sensible idea to check weekly and monthly charts for pivot points and other indicators like fibonacci etc. Because they are acting over a longer time frame they tend to be more powerful.

Cheers

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Old Dec 12, 2010, 3:42pm   #10
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I will never get the relevance of pivot points as a tool. They don't work so why do so many folks use them?
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Old Dec 12, 2010, 4:49pm   #11
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Quote:
Originally Posted by forker View Post
I will never get the relevance of pivot points as a tool. They don't work so why do so many folks use them?
what do you think works then
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Old Dec 12, 2010, 4:56pm   #12
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Support\resistance ... Plain and simple
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Old Dec 12, 2010, 7:38pm   #13
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At times the lack of intellectual (trading) curiosity on display on this suite of forums staggers me; dyor, 'Google' pivots, watch the many you-tube vids on the subject..

BTW, just about any charting package you can buy, or get free, puts S&R (3 levels) + the daily pivot on your chart as an indicator option/choice..IMO you should not trade without these 3 key levels on your charts, particularly if you're day trading fx.
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