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Study says pivots don't work?


This simple study says that pivot points don't work; they author tested 10 major currency pairs for 2006 to the present and found that the price was no more likely to revert back to the pivot point than any other number [url]http://www.myforexdot.org.uk/PivotPointAnalysis.html[/url].

If pivots work, can someone suggest something that can be back tested to show that they have some statistical significance?
oops;
pivots above are for 9/30
30-Sep-09
Key Price Levels (CT)
1058.25 07:15
1063.25 07:32
1060.00 08:31
1041.50 08:57
1059.25 12:05
1047.00 14:16

Daily Classic Pivot Points (ETH basis)
- PP ---
* Price-*
Dif
PP 1058.00
1058.25
-0.25
S2 1045.50
1047.00
-1.50

Notes: Interesting day - too bad I was asleep!
1041.50 Found at -250% Fib of Pre-open prices

Source of PP
http://www.mypivots.com/dn/?symbol=224
Hope it helps!

quote:
Originally posted by redsixspeed

oops;
pivots above are for 9/30



Thanks Rex6!

Are the prices in between the line the index close matches?

quote:
Originally posted by blue

quote:
Originally posted by redsixspeed

oops;
pivots above are for 9/30



Thanks Rex6!

Are the prices in between the line the index close matches?




These are classic pivots cal. using a different time frame
01-Oct-09
Key Price Levels (CT)
1055.00 02:35
1045.00 07:30
1049.25 08:30
1028.75 12:20
1034.75 13:27
1024.50 14:59


Weekly Classic Pivot Points
- PP ---
* Price-*
Dif
S1 1026.25
1028.75
-2.50

Notes: Not really much as matches on ETH basis. Price broke down through yesterday's 1041.50 low and down to the 61.8% retracement level (1023.50 on ES and 1025.75 on SPX). Matches on RTH basis were quite good.

Daily Classic Pivot Points (RTH basis)
- PP ---
* Price-*
Dif
S1 1043.50
1045.00
-1.50
S2 1025.00
1024.50
0.50

Source of PP for ETH basis
http://www.mypivots.com/dn/?symbol=224
Hope it helps!

02-Oct-09
Key Price Levels
1025.50 06:56
1012.00 08:04
1012.00 08:04
1026.25 09:33
1018.75 10:42
1026.00 12:12


Daily Classic Pivot Points (ETH basis)
- PP ---
* Price-*
Dif
S1 1016.00
1012.00
4.00

Weekly Classic Pivot Points
- PP ---
* Price-*
Dif
S1 1026.25
1026.25
0.00
S2 1011.50
1012.00
-0.50

Notes: Wow! look at the matches to the weekly!


Source of PP for ETH basis
http://www.mypivots.com/dn/?symbol=224

Daily Classic Pivot Points (RTH basis)
- PP ---
* Price-*
Dif
S2 1025.00
1026.25
-1.25

Notes: Not a bad match here either! 1025 of Daily RTH matched the weekly of 1026.25 giving it double strength!

Hope it helps!

06-Oct-09
Key Price Levels
1022.00 02:07
1028.50 03:11
1021.25 08:37
1031.00 09:01
1022.75 09:09
1038.50 13:55


Daily Classic Pivot Points (ETH basis)
- PP ---
* Price-*
Dif
PP 1031.50
1031.00
0.50
S1 1024.50
1022.75
1.75


Daily Classic Pivot Points (RTH basis)
- PP ---
* Price-*
Dif
PP 1021.00
1021.25
-0.25

Notes: Almost perfect match PP to the low! Only .25 off!
Fibonacci Retracements and Extensions
-- PP ---
* Price-*
Dif
HIGH 1038.50
1038.50
0.00
LOW 1019.50
1021.25
-1.75

Notes: Perfect match
on the FIB high! and very close on the low!



Hope it helps!


Source of PP and Fib for ETH basis
http://www.mypivots.com/dn/?symbol=224
06-Oct-09
Key Price Levels
1035.75 00:05
1047.75 06:53
1042.50 08:30
1056.75 10:10
1042.75 13:32
1052.50 14:34


Daily Classic Pivot Points (ETH basis)
- PP ---
* Price-*
Dif
R2 1050.50
1052.50
-2.00
R1 1043.50
1042.75
0.75
Notes: Good match R1 to the close.

Weekly Classic Pivot Points
- PP ---
* Price-*
Dif
R1 1054.25
1056.75
-2.50
PP 1033.25
1035.75
-2.50

Source of PP for ETH basis
http://www.mypivots.com/dn/?symbol=224

Daily Classic Pivot Points (RTH basis)
- PP ---
* Price-*
Dif
R4 1054.75
1056.75
-2.00
R3 1043.50
1042.50
1.00

Fibonacci Retracements and Extensions
- PP ---
* Price-*
Dif
100% 1057.50
1056.75
0.75

Notes: Good match on the FIB 100%

Hope it helps!

Key Price Levels
1054.75 02:24
1045.25 07:51
1046.25 08:49
1054.50 10:06
1047.50 11:00
1054.25 14:59


Daily Classic Pivot Points (ETH basis)
- PP ---
* Price-*
Dif
PP 1047.00
1046.25
0.75

Notes: PP close to the low 0.75 off.

Weekly Classic Pivot Points
- PP ---
* Price-*
Dif
R1 1054.25
1054.50
-0.25

Notes: R1 matched the high 0.25 off.
Source of PP for ETH basis
http://www.mypivots.com/dn/?symbol=224

Daily Classic Pivot Points (RTH basis)
- PP ---
* Price-*
Dif
R4 1054.75
1054.50
0.25
R3 1043.50
1045.25
-1.75


Hope it helps!

08-Oct-09
Key Price Levels
1065.75 07:31
1058.50 08:34
1056.75 09:07
1067.25 11:28
1060.25 13:25
1065.25 14:09


Daily Classic Pivot Points (ETH basis)
- PP ---
* Price-*
Dif
R2 1060.75
1060.25
0.50
R1 1057.00
1056.75
0.25
Notes: R1 close to the low.

Daily Woodie Pivot Points
- PP ---
* Price-*
Dif
R3 1066.50
1067.25
-0.75
R2 1060.75
1060.25
0.50
R1 1057.00
1056.75
0.25
Notes: Matching these PP to Daily RTH would have been great confirmation.



Weekly Classic Pivot Points
- PP ---
* Price-*
Dif
R1 1054.25
1056.75
-2.50

Source of PP for ETH basis
http://www.mypivots.com/dn/?symbol=224

Daily Classic Pivot Points (RTH basis)
- PP ---
* Price-*
Dif
R3 1068.00
1067.25
0.75
R1 1056.75
1056.75
0.00
Notes: Excellent! R1 matched the low perfectly and R3 very close to the high!

[U Fibonacci Retracements and Extensions /u]
- PP ---
* Price-*
Dif
62% 1060.50
1060.25
0.25

Notes: Very close with 62%.

Hope it helps!

Study wasn't usin' them right. Nuff' said.