Entry using pivot points

[Mr.Money 10]

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

[MrPaul 10]

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

 

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.

 

 

[Soultrader 12]

Welcome Frank, like Mr. Paul mentioned VSA in combination with pivots can offer excellent entry exit signals.

 

Pivot points are like any other technical S&R levels. Price will sometimes bounce at these levels, break and go right through, or chop around. The key would be to not take trades blindly at these levels but to wait for a technical setup to appear at these levels.

 

In the past, I used pivots exclusively and one other way to determine if the pivot was playable or not was to look at internals as well. Also note that pivot point clusters zones tend to work fairly well. These are levels where daily, weekly, monthly pivots cluster up. Add a few market profile levels as well and you have a very interesting S&R cluster level.

[Mr.Money 10]

Thanks a lot Mr. Paul and Soultrader

 

I read the VSA thread (Tingull's thread) and some others about market profile etc.

 

I like the idea and it seems very technical but I would like to know how ist it going to help me on my trading. All I see is the techical stuff. If there's a thread (or maybe you could explain here) that shows rules (conditions) like " when you see xx then you go long/short/place a stop/limit order etc.

 

I've been trading pivots for quite sometime now. I decided long ago to hold until the market reaches the pivot to do my play. I use market orders and that's a problem, not becuase of the risk of a bad price/fill but sometimes I don't make the rigth chioce and screw it up. I was thinking about having resting orders at some distance off the pivots but I am not sure.

 

Thanks

 

Frank

[Mr.Money 10]

Guys

 

I found soultrader's Market profile definitions thread and now it's making a lot of sense to me.

 

Thanks a lot for a wonderful site soultrader. I wish you nothing but the best

 

Frank.