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As an aside. In the S&P, 70% of days, price will come within 2 ticks of the floor pivot. Heres the interesting thing the stats are very similar on an hourly chart or a 30 minute chart (using the previous bars 'pivot') this suggests to me there is some inherent usefulness in the number rather than being self fulfilling because everyone is watching. |
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Interesting BF - can you provide some info to substantiate this? You got my curiosity now.
Also, silly question - what exactly are you referring to as the 'floor pivot'. I think I know, but some clarification would be good so we are on the same page.
