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any relationship between day trading and pivotpoint
- Thread starter robinxing
- Start date
Quote from robinxing:
I believe there is some relationship between them
but I do not know what is it
could someone give me some help
thank you
We use the pivot points of the futures in our entry/exit decisions during the day in this way: We consider the "trading troughs" between Pivot and R1* or S1, S1 and S2, etc. to be "mini" support/resistance levels. They tend to be a self fulfilling prophecy since the large futures traders on the floor (and off) tend to "stall" at these particular levels.
We don't necessarily use the individual stock pivot points, we merely consider the overall market trading "range" or "level" along with other indicators.
All the best,
Don
Quote from robinxing:
I found usually the open of next day is between the r2 and s2 of pivot
if the open of next day is greater or less than the r3 or s3
it is hard for trend following systme to grasp profits
The opening only strategy does not really take into consideration pivot points, unless you happen to be in the trade more than a few minutes. We are only betting that the Specialist will make money on his opening trade, and we simply want to be assured we are on the same side of the trade as he is.
Don