View Single Post
Old 09-12-2009, 08:23 AM   #8 (permalink)
DREBG
 
DREBG's Avatar
 
Join Date: Jul 2008
Location: NH, USA
Posts: 1,290

Thanks Stats
Thanks (Given):
Thanks (Received):
Send a message via Yahoo to DREBG Send a message via Skype™ to DREBG

Quote:
Originally Posted by matt230 View Post
You may as well just use previous support and resistance lines as they arent as subjective as everyones different pivot calculations. If you cant calculate your pivots right they are the most useless thing on earth. At least everyones candles are in about the same area

matt230-

PP's are NOT subjective!!! The fact that everyone's PP's ARE the same is what makes them so important! If yours aren't EXACTLY like mine, you're not charting them correctly- PERIOD!
(Now, for the record, Peter Bain uses 12a NYT as his calculation point rather than 5p NYT like most others but the lines are very close.)

1st of all, you need only post them for the DAY or WEEK- NOT the last hour, 4H etc.

2nd, you need to look at them as areas of where the trend is likely to take PA THAT DAY.


Chart With NO Pivot Points - Where's PA Relative to SOMETHING... ANYTHING!!?





Chart WITH Pivot Points - See the Structure??

__________________
- Dave


THE GREATEST RISK IS NOT TAKING ONE...
DREBG is offline   Reply With Quote