Re: Pivots, Posts, Sensibility, and.... Trading.

[rjb@xxxxxxx]

>>  > All pivots work the same, has nothing to do with the math.
>>
>>  Then you need to learn somthing. It is all math. You explained the
>>  conscept of support & resistance or the application of the mathematical
>>  tool. But your mistake is how you view the problem. It is the price
>>  pattern (a mathematical relationship) that determines the type of pivot
>>  formula (successful or not).

>         Your comment about math studies would be right if we were dealing
>with math studies. But we are not.  Math doesn't place buy and sell orders,
>people do, and much of what they do is based on pure emotion, fear and greed.

Someone once wrote that technical analysis is merely applied social psychology.

Do people behave in a way that can be predicted with mathematical study?

My view is sometimes they do ... sometimes they don't.

That's why recognizing visual patterns on a chart (observing the behavior
of people) is as important (maybe more so) as any mathematically-calculated
statistic.

As Berra put it, "sometimes you can observe a lot just by looking"

-Richard