|
PureBytes Links
Trading Reference Links
|
Joe,
Below is a URL to some information on what I refer to as the Traditional
Pivot. I am currently trying to develop a Trading System around trading the
Pivot. I think traders calculate the Pivot many different ways.
Hope this helps ... http://news.bridge.com/NEWS/gfiv4_10.html
Dennis
>> Joe Zelwietro wrote:
>> >
>> > Hello Bob:
>> >
>> > Your continuing bond posts have been educational and have taken some of
the
>> > mystery out of bond movements for me. Thanks.
>> >
>> > I have a simple question re: pivot points. I have compared the way I
>> > calculate pivots and find that they don't quite match yours. It could
be
>> > because you include night trading and I don't, or perhaps its because
you
>> > calculate the pivot points differently.
>> >
>> > Here's how I calculate them:
>> >
>> > The calculation for the new day are calculated from the High (H), low
(L)
>> > and close (C) of the previous day.
>> >
>> > .Pivot point = P = (H + L + C)/3
>> >
>> > .First area of resistance = R1 = 2P - L
>> > .First area of support = S1 = 2P - H
>> > .Second area of resistance = R2 = (P -S1) + R1
>> > .Second area of support = S2 = P - (R2 - S1)
>> >
>> > I know you also use a third level and assumed that you made an extra
step:
>> > i.e.[R3=(R1-S1) + R2], but you know what happens when ones assumes :-)
>> >
>> > Appreciatively,
>> >
>> > Joe Zelwietro
|