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I agree Felix not so sure Bill Eykyn is not for real. I think his spaming
is what prompted these replies.
Simplicity has always work for me especially in chaos.
Robert
FelixTY wrote:
>You know guys?, Sometimes the simplest most basic approaches/methods might
>be the right path.
>
>I don't see any university professors/engineers made the Gold. as well as
>the supposedly
>light headed ex-athletes do in the trading arenas.
>
>
>CORRECTION here I Robert wrote this Dennis Holverstott wrote the answer
>>> > What is R1 is that percent R?
>> > What is S1 is that stochastic if so which one,K,D?
>
>Dennis Holverstott wrote:
>
>> Nono... they are the old "trader's pivots". R & S stand for resistance
>> and support levels. I think our pal, Neal W., wrote a book about them. I
>> don't use them and this is from memory but the logic is something
>> like....
>>
>> [high, low, and close are yesterday's daily values]
>> pivot = (high + low + close)/3
>> or (high + low + 2*close)/4
>> or (high + low + close + today's open)/4
>> or..... pick your favorite
>> R1 = pivot + (pivot - low)
>> R2 = pivot + (high - low)
>> S1 = pivot - (high - pivot)
>> S2 = pivot - (high - low)
>>
>> There's an ELA somewhere on the omega site. I forget what it's called.
>>
>> --
>> Dennis
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