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Sledge, for the longest time, about a year I used floor pivots for the ES and ER and they worked, but too often price just smoked through them without a pause. Part of problem I believe with using floor pivots is which one do you use? There are 5-6 formulas I believe.
I don't post this to rain on your parade by any means, I hope you have better luck with them than I have had in the last few months. Just some food for thought.
I do believe in using PDH and PDL and looking to supplement them with some other logical S/R areas. I have been tinkering with MP and to me the it makes sense because it based on PV which is what VSA is, but when the market gaps hard and its far from the previous day MP levels what to do then? This is what I find myself thinking. This is the reason for question above to Eiger about S/R. |
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dandxg-
No parade raining at all.
I have dabbled with them and found the same thing you did- they can get smoked in a heartbeat, I'll have to go back to my trade journal and refresh myself as to why I gave them up.
*Looking for notes*
Ahh there it is, with SOME success but no real "comfort level" in making trades with them.
Also just as I was getting into fully testing them,
VSA broke into my world. Became all consumed with
VSA and they went by the wayside.
Trend channels appear to give a better gauge, I am in the early stages of learning them (i.e. how to draw, where to draw.) I had a mini-course lesson this morning on them as a matter of fact!
Sledge