Pivots change every day?

[SanMiguel]

Pivots change every day?
Just looked at my chart again and all the pivots have changed since the daytime.
This gives different S&R lines and they are a LOT different.
Is this supposed to happen on a day by day basis? Seems strange that the traders would change their target based on this every day.

 

[shadowninja]

That's the theory...

 

[SanMiguel]

That's the theory...

So, a support can change near the end of the day and the price keeps dropping rather than rising?

 

[Trader333]

I guess that you must be using "calculated pivots" which will change each day. These are not the same as those which are drawn in by visual observation.


Paul

 

[gamma]

Pivots change every day?
Just looked at my chart again and all the pivots have changed since the daytime.
This gives different S&R lines and they are a LOT different.
Is this supposed to happen on a day by day basis? Seems strange that the traders would change their target based on this every day.

If you were to look at how pivots are constructed it would answer all your questions.

 

[TheBramble]

So, a support can change near the end of the day and the price keeps dropping rather than rising?

Support is only Support if the price stops going down at that point. Price action defines Support (and Resistance) not some line that's be calculated ahead of time.

That’s not to say there aren’t recognisable levels of Support/Resistance in most instruments and there are even some self-fulfilling levels (Pivots) that some folk believe they trade quite successfully.

But as Trader333 suggests, Daily Pivots will change each day (yes, there are Pivots in other TFs and even dynamic Pivots too) and are most definitely not the same as those you can observe by simply looking at the chart – in several timeframes.

 

[new_trader]

Support is only Support if the price stops going down at that point. Price action defines Support (and Resistance) not some line that's be calculated ahead of time.

That’s not to say there aren’t recognisable levels of Support/Resistance in most instruments and there are even some self-fulfilling levels (Pivots) that some folk believe they trade quite successfully.

But as Trader333 suggests, Daily Pivots will change each day (yes, there are Pivots in other TFs and even dynamic Pivots too) and are most definitely not the same as those you can observe by simply looking at the chart – in several timeframes.

 

[SanMiguel]

Support is only Support if the price stops going down at that point. Price action defines Support (and Resistance) not some line that's be calculated ahead of time.

That’s not to say there aren’t recognisable levels of Support/Resistance in most instruments and there are even some self-fulfilling levels (Pivots) that some folk believe they trade quite successfully.

But as Trader333 suggests, Daily Pivots will change each day (yes, there are Pivots in other TFs and even dynamic Pivots too) and are most definitely not the same as those you can observe by simply looking at the chart – in several timeframes.

So actually it would be better to have the drawn on/observed S&R lines and the pivot S&R to judge and be watchful when your trade is near any of these lines.

 

[TheBramble]

Yes.

 

[DaxDestroyer]

Just wanted to tell all the diamonds here, that I' m truly amazed and impressed how calmly and friendly you answer to questions, I have to avoid

Why?

Because I can't believe sometimes what kind of questions come up here.

Boys and girls ... why don't you even TRY first to find something out BEFORE answering here???

At least send the guys a check or at least a BIG THANKS plus Rep points

Cheers Carlos

 

[new_trader]

Because I can't believe sometimes what kind of questions come up here.

The answers are even funnier

 

[DaxDestroyer]

The answers are even funnier

I have to agree

Sometimes it makes me think, how a board would look like, where you would have different levels of logins

You know, what I mean? A board for people who know and still want progress

 

[TheBramble]

Just wanted to tell all the diamonds here, that I' m truly amazed and impressed how calmly and friendly you answer to questions, I have to avoid

Carlos, I think it's very easy to forget just many 'stupid' questions one probably asked when one was starting out oneself.

It can be exasperating to respond to the same old same old, time after time, true. And I am as guilty as any (more than most actually) of having demonstrated an undeniably short fuse when it comes to the apparent lack of willingness in the majority to expend even the slightest effort in their own research. The solution is obviously to ignore the questions, marvel at the shallowness of Intent and Purpose of today’s crop of numpty traders and simply move on. That’s what I do and I imagine many other experienced traders on these boards do, most of the time.

However, now and again, when you have the time and the feedback is appreciated, you make time, don’t you. It was bods doing that for me with my countless stupid questions that got me to slightly less stupid.

And maybe asking questions at this level on these boards IS doing research? If SanMiguel has picked up 10-20 years trading expertise in just one small area by asking just a few ‘stupid’ questions, who exactly is stupid?

 

[Charlton]

Carlos, I think it's very easy to forget just many 'stupid' questions one probably asked when one was starting out oneself.

It can be exasperating to respond to the same old same old, time after time, true. And I am as guilty as any (more than most actually) of having demonstrated an undeniably short fuse when it comes to the apparent lack of willingness in the majority to expend even the slightest effort in their own research. The solution is obviously to ignore the questions, marvel at the shallowness of Intent and Purpose of today’s crop of numpty traders and simply move on. That’s what I do and I imagine many other experienced traders on these boards do, most of the time.

However, now and again, when you have the time and the feedback is appreciated, you make time, don’t you. It was bods doing that for me with my countless stupid questions that got me to slightly less stupid.

And maybe asking questions at this level on these boards IS doing research? If SanMiguel has picked up 10-20 years trading expertise in just one small area by asking just a few ‘stupid’ questions, who exactly is stupid?

Great post - exasperation with the same repeated questions at time - Yes ! We must all remember that those first tentative steps into trading are like stepping into a minefield of scams, conflicting strategies and a myriad of information sources being available. Newbies might not necessarily do sufficient searches, but they need a helping hand on occasion to being given a nudge in the right direction.

Without sharing information these boards would cease to exist or have purpose and anyone more experienced who has derived useful information from them should be prepared, from time to time, to contribute for the benefit of others.

Even for more experienced members it is useful occasionally to revisit basic questions and concepts to try to explain them to others. This can sometimes result in new lights being turned on in one's own mind. :idea:

There are many posters on T2W who have in the past, and continue to, give me food for thought, including your own well-articulated posts.

Charlton

 

[zarif]

Yes Same as "weather changes by the minute hour week month etc" and so does our views attitudes interests likes dislikes - So do the markets action Prices etc and YES PIVOTS change and ( they are onloy a view at the time or pre-calculated) Not written in stone and immovable - they are all but a guide line and what action reaction takes place there .

rgds
zarif

 

[tarrentino]

Pivot Calcs are:-
PP=(HighD1+LowD1+CloseD1)/3;
S1=(2*PP)-HighD1;
S2=PP-HighD1+LowD1;
R1=(2*PP)-LowD1;
R2=PP+HighD1-LowD1;

If you use Metatrader you can download a free pivot calculator and display tool from my website. FX AlgoTrader Landing Page - click on free tools on the "About Us" page - Daily Pivots change Daily - Weekly Pivots change weekly and Monthly Pivots change monthly. It's logical Captain!