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Yes I use pivots all the time. Icombine it with some of my pattern
recognition systems.
TRADEHARD.COM provides the pivots on a daily basis. It is helpful in
that it cuts down on my scan time.
JS
--- patrick fernicola wrote:
> Here is a pivot point calculation and I was
> wondering if anyone is using pivot points and what
> has there usefulness been?
>
> The pivot point and its support and resistance pairs
> are defined as follows:
>
> Pivot point (P) = (H + L + C) / 3
> First resistance level (R1) = (2 * P) - L
> First support level (S1) = (2 * P) - H
> Second resistance level (R2) = P + (R1 - S1)
> Second support level (S2) = P - (R1 - S1)
> where H, L, C are the previous day's high, low and
> close, respectively.
>
> PJF
>
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<DIV><FONT color=#000000>Here is a pivot point calculation and I was
wondering
if anyone is using pivot points and what has there usefulness
been?</FONT></DIV>
<DIV><FONT color=#000000></FONT> </DIV>
<DIV><FONT color=#000000>
<P>The pivot point and its support and resistance pairs are defined as
follows:<B><PRE> Pivot point (P) = (H + L + C) / 3
First resistance level (R1) = (2 * P) - L
First support level (S1) = (2 * P) - H
Second resistance level (R2) = P + (R1 - S1)
Second support level (S2) = P - (R1 - S1) <BR></B></PRE>where <B>H,
L, C</B>
are the previous day's high, low and close, respectively.</FONT></DIV>
<DIV><FONT color=#000000></FONT> </DIV>
<DIV><FONT color=#000000>PJF</FONT></DIV></BODY></HTML>
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