S&R Zones as Opposed to Lines

Quote from version77:

Some like to call them WAR ZONES... :cool:
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Yeah, we had some nice ones today. One was about 7.25 to about 8.25 on ES. I bet there was a pile of corpses in that zone.
 
Quote from TGregg:

Yeah, we had some nice ones today. One was about 7.25 to about 8.25 on ES. I bet there was a pile of corpses in that zone.
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Many are called into the War Zones but few come back alive...
 
To me, the value of pivot points are in their Predictive value.

Example: If you are below the pp your bias is/should be to go short. So if you short say the ES what is your objective? S1....bingo. Take the profit, if desired, now once you get to S1 what is your objective? To see what price does at S1...then either get out if it goes sideways, stay short if it starts eyeballing S2, etc.....etc,,...etc....

The day is pre-planned for you.....mix in a moving avg cross, other pattern recognition etc and have fun. Forget oscillators of all sorts since there is no trading during ranges. (or if you do just buy support and sell resist since these spots are now your pivot points. What a game...:D
 
Victors

just go to Google and google pivot point calculator and there are sites to do it for you. just have the close, the days high, the days close.

Some folks like to redo the pivot points with the open of the new day, that is subjective.....:)
 
Have a look at this.
It may be of some help.

Every day a new forecast. You can subscribe to the service for free: an email will be sent to you every day.

PS: The pdf has nothing to do with currencies even though the name suggests so.
 

Attachments

Quote from sunnyskies:

The idea is that often S&R levels are not bounced off exactly. Sometimes a bounce off support comes a bit above support, sometimes it breaks support a bit and then bounces. The idea is to create a tight band above and below the level. Now we watch price action in this whole zone, as opposed to just at the line. The size of the band... that can be researched.. It can be in ticks, or it can be in % or it can be ATR(10)/2 for example. We can research what size of bands is optimal.
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Damn I wish I would have witnessed this post 3 months ago. What an epiphany! We can all research general areas instead of specific points. Why hasn't anyone else thought of that?
 
Quote from duard:

Sunny not to hijack your thread but I do like the topic...


Todays classic pivots:

R2 1237.75
R1 1230.75
PP 1224.25
S1 1217.25
S2 1210.75


"My Modified Pivots"

R2 1239.50
R1 1232.75
PP 1224.00
S1 1218.00
S2 1212.00

With the exception of the PP, these zones were not helpful.


So, to be fair you can only use these numbers to assist your trading not as the "backbone" to a system. But it helps to have sign posts planted before the day starts and lean on them as necessary.
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I have to laugh...those August pivots could have more or less been for today. :)
 
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