Originally Posted by matt230
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
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??