one or two peeps use the main pivot as a guide to confirming set ups on the various crosses. How you integrate it into your trading plan will depend on which type of set ups you plan to use. Best thing to do is observe the (main) pivot on a daily basis & see how price reacts around it on your chosen pair....it's not a 'nailed on' long above/short below indicator, more an addition to your other t/a armoury....occasionally you'll notice it coincides with a prev day's 'action level' (as it did yesterday & today ), thus highlighting/confirming potential moves....other times it will show nothing, merely sitting bang in the middle of ranging price action....as Taz has pointed out, it's a helpful addition to your awareness. I tend to use it as an 'action watch' level & it certainly helps in strengthening trade entries coupled with other t/a.
I haven't found the s/r pivot levels particularly beneficial to be honest, but then, maybe you might want to research that aspect yourself....as with any t/a - indicators you might use, a good understanding of their uses & limitations is essential if you're going to incorporate them into a strategy.......good luck with it!
Iv had a look at PXtrade before, but couldn't find the page where it shows you updates on S+R
levels. Hoping you can point me in the right direction.
Think its about time to make another appointment with my optician. Better tell him to thicken my specs to the max