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What about tight, range-bound days (aka 'chop' or 'random rotational days') when the price action doesn't even come near the pivot lines? Are they just discarded on these days and some other strategy employed? |
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On those days it will often chop around the PP itself. Halfway points are often respected too. The problem often comes after a wide range day - the lines for the next day are going to be spread out (due to the geomatory behind the maths). After such a day you may get a narrow consolidating day (or 2) in which case you may not hit much.
Really there is no substitute for eyballing the charts yourself and seeing what works (or not) for your favourite instrument.
Cheers.