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<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
BobR
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Monday, April 28, 2003 4:58
PM
Subject: Re: [RT] Multiple Period
Pivots
followthrough.... now wouldn't you know they
would split the difference between the daily and weekly pivots! on the first
two tries.
bobr
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
<A title=bobrabcd@xxxxxxxxxxxxx
href="">BobR
To: <A
title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Sunday, April 27, 2003 8:33
AM
Subject: Re: [RT] Multiple Period
Pivots
The previous post used daily data. This
one uses 15 minute bars and has the same daily, weekly, monthly pivots and
typical prices. All the lines were created with the TS built in tool
Custom 1 Line. The formulas are on the chart for those not familiar
with them. I did this little exercise because the Duffy Pivot Channels
on 5 minute bars seemed to be captuing price movement and predicting
support/resistance beyond chance. It was as though some influential
players or automatic systems were trading off higher timeframe levels.
There was a consensus of buying back on 4/16 and again on 4/22 as the
weekly pivot was a launching pad for rallies. Now here we are facing
Monday(Sunday PM) with the SP below the weekly pivot and daily pivot.
If the floor and ceiling theory of support/resistance holds, then the weekly
pivot at 901.1 level should be resistance. The next higher time frame
support is the monthly typical price at 887.9. That of course is just
one scenario. The SP could work above the weekly and daily pivot again
next week at which time it would become support again.....just something to
watch for.
enjoy,
bobr
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
<A title=bobrabcd@xxxxxxxxxxxxx
href="">BobR
To: <A
title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Saturday, April 26, 2003 12:39
PM
Subject: [RT] Multiple Period
Pivots
Decided to check out the concept of confluence of
pivots in different timeperiods, daily, weekly, monthly.
Intraday on Friday the daily pivot was thesell point based on
Thursday's HLC. Friday's close of 898.6 was below theweekly
pivot at 901. Did you notice on Friday there was a lot of
sidewaysmovement below 900 after the AM drop. Wonder if that had
anything to dowith the weekly pivot? The weekly pivot is above
the monthly pivot at887.8. 4/23 had a maximum bullish(or
contrarily bearish) configurationconsidering the relationship of pivot
periods. That was similar to the lowsin Feb and March. The
March 31st low had a confluence of daily weekly andmonthly before the
snp rocketed upward. March 3rd had a confluence of dailyweekly
monthly as it went into sell mode. The 887.8 April pivot will
movelower if the snp close moves lower since it is composed of the
monthly HLC.There is also a lot of price congestion at the 888
level. That seems to meto be a market logic place for price to
end the month. Also, 890.5 is a 50%retrace of the BC
swing.bobrTo unsubscribe from
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