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Hello guys
I've been watching pivot points for quite some time now and I beleive price pretty much reacts when it reach to these levels. I would like to know how do you guys use them for entry. Do you fade the pivot with a resting (stop) order already in place? I trade ES and I use practically all the leves (daily, weekly and monthly) as well as daily midpoints.
By the way, this is a wonderful site. Congratulations.
Frank |
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Hi Frank,
It's good to keep in mind that Pivot Points are only PROJECTED areas of support or resistance. It's not the level itself but the level and what price (and volume) does near, at, or just beyond it.
I would take a browse through the Volume Spread Analysis threads on the board to get a better understanding of what to look for at these pivot levels.
