Pivot Odds

R

RangeTrader

I need someone to clarify and confirm these numbers. I'm not completely sure they are correct. Just something I was told a long time ago.

The ES/SPX has reached R3 already today with standard intraday hours only pivots. Now... According to what I remember the odds of the market not holding onto the R3 level into close are 77% if it's reached around midday. If the R2 level is reached around midday the odds of not holding that level into close are 67.5%.

Is anyone willing to share a book or some research that confirms the exact numbers? This is one of those little odds tricks that most traders would try to keep secret... If you don't want to share it's ok.

It's not something to trade off of. It's just good to know for helping calculate the odds of trade setups.
 
There is no edge in it,none.zero,never was,never will be.Nobody is keeping nothing secret.If it was a secret then how come you think you know something about it? Does the market care about pivots? no Do the main players care about pivots? no Are there enough pit traders left to move the market? no Forget pivots.
Or just ignore me and see how rich you are in 1 2 3 4 5 years time...
BTW there is no such thing as a trading setup..it's just a perception thing
 
Quote from MADASINHATTER:

There is no edge in it,none.zero,never was,never will be.Nobody is keeping nothing secret.If it was a secret then how come you think you know something about it? Does the market care about pivots? no Do the main players care about pivots? no Are there enough pit traders left to move the market? no Forget pivots.
Or just ignore me and see how rich you are in 1 2 3 4 5 years time...
BTW there is no such thing as a trading setup..it's just a perception thing
More...

Ãîð÷èöû åáàíè
 
Is it just me or are half of the people here mad as a hatter? LoL...

Pivot levels are still to this day very valid support/resistance levels. Daily pivots are not that strong but price still always reacts to them a little. Weekly pivots are practically market moving. Seen so many market reversals begin off weekly pivot tests it's ridiculous.
 
Quote from RangeTrader:

Is it just me or are half of the people here mad as a hatter? LoL...

Pivot levels are still to this day very valid support/resistance levels. Daily pivots are not that strong but price still always reacts to them a little. Weekly pivots are practically market moving. Seen so many market reversals begin off weekly pivot tests it's ridiculous.
More...

I reserve the right to be the maddest one here otherwise what the bloody hell is the point of my handle?
Is it just me or are half the people here..just the other half or what?
 
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