Pivot for Stocks
- Thread starter mwvp
- Start date
THEY are a tool....don`t fall in love with your products or tools....but you still need to put all the pieces together....if something news related affects the economic outlook...your pivot plays will get crushed.....but they are solid technical analysis tools ....all else being equal ....or held constant, fundamentally speaking.
bluedemon77
Guest
Quote from mwvp:
Hi, im new in this business and i would like to get some opnions if the pivot points really work for stocks.
Is there a lot of you that use that to find entry and exits points?
Does it work only for intraday movements?
Any comment will help!
Thanks!
I posted the same question several weeks ago. Since then, I've experimented with them and decided to keep them on my chart. Reason: they do seem to act as support/resistance, although they only come into play when prices are near the pivot range. I've seen prices bounce off of the pivot range and trade in a range back and forth around the pivot range. I think if you want to do longer term trades you would need to look at weekly or monthly pivots. Read The Logical Trader for a complete discussion. HTH.
Chuck
bluedemon77
Guest
I only trade stocks, myself. If you subscribe to Active Trader, the current issue contains a critique of pivot points.
Chuck