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Ok, gotta be more precise. Thanks for your replies.
> Pivot points are used in the pit by pit traders who are looking for
> a place to trade.
Yeah, right... ;) I know analysts using pivot points as an alibi. And I
heard of trading systems applying pivot points. But no money making
individual trading Eurex I know of is using these freakin' pivot points.
So what pit trader is using pivot points? How many locals?
IMO this is just another legend...
> Pivots are reported to be 'decision points'. Would it be possible to see
> if pivots have any value by checking the 'behavior' of prices at these
> 'decision points'?
Good point. I am interested too.
Concerning position trading, PPs could even make sense, but from
a scalper's point of view (and I guess most locals are just that) it
appears to me to be not useful.
Regards,
Soeren
PS: pivot point = (H+L+C)/3 or (H+L+2C)/4 or (H+L+C+O)/4
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