Quote from illiquid:
I'd assume the "smart" money, by definition, does not rely on "incidental" indicators like pivots, and may take them into account but will have more reliable sources/methods on anticipating demand and supply. A retail trader makes do with what he can, but should think about whether his methods actually give some insight to the demand/supply picture, or are just coincidental.
That's not to say the coincidental cannot be profitable, but realize it's basically just leftovers.
