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Does any one have the formula for plotting the 3rd level of
Resistance/Support Pivot Points?
Thanks.
David
----- Original Message -----
From: Bob Hunt <RHunt.066@xxxxxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Sent: Saturday, May 01, 1999 9:36 AM
Subject: Re: pivot points
> > 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?
> ----------------------------------------------------------------
>
> Patrick,
>
> I use them extensively in my own work for trading the bond market, as
> do many floor traders.
>
> They are a great aid in determining potential support and resistance
> levels throughout the day. They're best used in combination with
> specific price behavior patterns which indicate high potential for a
> short term turn in direction.
>
> If you'd like an Omega Research ELA for plotting them, just let me
> know. The ELA also plots a third level of S&R, which most pivot system
> discussions neglect to mention.
>
> Bob Hunt
> E-Mail: RHunt.066@xxxxxxxxxxxxxxxx
> Web Site: http://home.att.net/~rhunt.066
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