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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?
09-Oct-09
Key Price Levels
1064.00 06:09
1058.50 07:26
1059.00 08:33
1065.75 10:23
1061.75 12:26
1068.50 15:03


Daily Classic Pivot Points (ETH basis)
- PP ---
* Price-*
Dif
PP 1061.50
1061.75
-0.25

Notes: PP close to the midday low.

Daily Woodie Pivot Points
- PP ---
* Price-*
Dif
R1 1069.50
1068.50
1.00
PP 1061.50
1061.75
-0.25

Notes: PP close



Weekly Classic Pivot Points
- no matches

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

Daily Classic Pivot Points (RTH basis)
- PP ---
* Price-*
Dif
R1 1068.75
1068.50
0.25
PP 1062.75
1061.75
1.00
S1 1058.25
1058.50
-0.25
Notes: Excellent matches!

[U Fibonacci Retracements and Extensions /u]
- PP ---
* Price-*
Dif
HIGH 1067.25
1068.50
-1.25
38% 1058.50
1059.00
-0.50

Notes: 38% and the high worked well.

Hope it helps!


And a little weekend fun...




Click image for original size
No Description Entered
Now what to spend it on?

http://www.informationisbeautiful.net/visualizations/the-billion-dollar-gram/

Let's see that was $21B to save the amazon rainforest....
from my $2,513,526B less 21 leaves me.. $2,513,505B
still enough for a Starbucks coffee.
12-Oct-09
Columbus Day
Narrow range and very low volume.

Key Price Levels
1067.50 02:16
1076.75 06:04
1076.75 09:00
1068.00 13:38
1072.75 14:59
1071.00 15:06


Daily Classic Pivot Points (ETH basis)
- PP ---
* Price-*
Dif
R1 1071.50
1071.00
0.50

Daily Woodie Pivot Points
- PP ---
* Price-*
Dif
R1 1071.50
1071.00
0.50
Source of PP for ETH basis
http://www.mypivots.com/dn/?symbol=224

Daily Classic Pivot Points (RTH basis)
- PP ---
* Price-*
Dif
R1 1068.75
1068.00
0.75
Notes: Good match to low

[U Fibonacci Retracements and Extensions /u]
- PP ---
* Price-*
Dif
62% 1074.75
1076.75
-2.00
HIGH 1068.50
1068.00
0.50

Notes: Fibs worked the best today.

Hope it helps!

13-Oct-09
Key Price Levels
1068.75 04:20
1074.25 06:45
1071.00 08:36
1063.00 09:05
1072.00 11:12
1066.25 13:10


Daily Classic Pivot Points (ETH basis)
- PP ---
* Price-*
Dif
PP 1071.75
1072.00
-0.25
S2 1062.00
1063.00
-1.00
Notes: PP close to the high.


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

Daily Classic Pivot Points (RTH basis)
- PP ---
* Price-*
Dif
PP 1071.75
1072.00
-0.25
S1 1067.25
1066.25
1.00
Notes: PP Good match to the high.

[U Fibonacci Retracements and Extensions /u]
- PP ---
* Price-*
Dif
50% 1072.00
1072.00
0.00
38% 1070.75
1071.00
-0.25

Notes: 50% found the high exactly.

Hope it helps!

14-Oct-09
Key Price Levels
1078.25 03:40
1085.75 05:59
1077.25 09:24
1083.75 10:25
1081.50 11:30
1089.75 14:36


Not much today!


Weekly Classic Pivot Points
- PP ---
* Price-*
Dif
R1 1084.50
1083.75
0.75

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

Daily Classic Pivot Points (RTH basis)
- PP ---
* Price-*
Dif
R2 1076.75
1077.25
-0.50


[U Fibonacci Retracements and Extensions /u]
- PP ---
* Price-*
Dif
62% 1081.25
1081.50
-0.25


Hope it helps!

15-Oct-09
Key Price Levels
1090.00 06:10
1080.50 07:07
1083.00 08:29
1087.50 08:59
1082.75 09:50
1093.25 15:03


Daily Classic Pivot Points (ETH basis)
- PP ---
* Price-*
Dif
R1 1094.00
1093.25
0.75
PP 1083.50
1083.00
0.50

Notes: R1 close to the high.

Daily Woodie Pivot Points
- PP ---
* Price-*
Dif
R1 1094.00
1093.25
0.75
PP 1083.50
1083.00
0.50
Notes: R1 close to high



Weekly Classic Pivot Points
- PP ---
* Price-*
Dif
R1 1084.50
1083.00


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

Daily Classic Pivot Points (RTH basis)
- PP ---
* Price-*
Dif
R1 1094.75
1093.25
1.50
Notes: R1 close to high.

[U Fibonacci Retracements and Extensions /u]
- PP ---
* Price-*
Dif
62% 1083.25
1083.00
0.25
50% 1081.25
1082.75
-1.50

Notes: 62% found the low.

Hope it helps!

19-Oct-09
Key Price Levels
1096.75 19:35
1080.75 02:33
1087.75 08:40
1082.75 09:26
1096.75 12:37
1080.75 15:06
Notes: Overnight session was perfect for high and low was the 15:06 low.


Weekly Classic Pivot Points
- PP ---
* Price-*
Dif
R1 1097.25
1096.75
0.50
PP 1080.25
1080.75
-0.50
Notes: Weekly shone today. Excellent for high

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

Daily Classic Pivot Points (RTH basis)
- PP ---
* Price-*
Dif
R1 1088.00
1087.75
0.25
PP 1082.75
1082.75
0.00
Notes: Excellent matches for lows.

[U Fibonacci Retracements and Extensions /u]
- PP ---
* Price-*
Dif
HIGH 1095.50
1096.75
-1.25
50% 1086.50
1087.75
-1.25


Hope it helps!

20-Oct-09
Key Price Levels
1099.00 06:32
1091.25 07:36
1096.00 08:23
1087.25 09:18
1092.00 09:57
1082.00 11:37
1090.00 15:10

Daily Classic Pivot Points (ETH basis)
- PP ---
* Price-*
Dif
R1 1099.75
1099.00
0.75
PP 1088.00
1087.25
0.75
Notes: R1 close to the preopen high.



Weekly Classic Pivot Points
- PP ---
* Price-*
Dif
R1 1097.25
1099.00
-1.75
PP 1080.25
1082.00
-1.75

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

Daily Classic Pivot Points (RTH basis)
- PP ---
* Price-*
Dif
R1 1088.00
1087.25
0.75
PP 1082.75
1082.00
0.75
Notes: Good matches for lows.

[U Fibonacci Retracements and Extensions /u]
- PP ---
* Price-*
Dif
50% 1086.50
1087.25
-0.75


Hope it helps!

Uh, Blue ... you're only alloted 100 emoticons per year ... you're at 99 ... I counted 'em!
22-Oct-09
Key Price Levels
1095.27 01:46
1072.50 06:42
1084.75 08:25
1098.50 09:43
1091.25 11:15
1072.50 15:01
1095.27 12:55

Daily Classic Pivot Points (ETH basis)
- PP ---
* Price-*
Dif
R1 1093.50
1095.27
-1.77
PP 1083.00
1084.75
-1.75

Weekly Classic Pivot Points
- PP ---
* Price-*
Dif
R1 1097.25
1098.50
-1.25

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

Daily Classic Pivot Points (RTH basis)
- PP ---
* Price-*
Dif
PP 1083.00
1084.75
-1.75

[U Fibonacci Retracements and Extensions /u]
- PP ---
* Price-*
Dif
HIGH 1098.50
1098.50
0.00
50% 1085.50
1084.75
0.75
LOW 1072.50
1072.50
0.00
Notes: Wow! look at the HIGH and the LOW! Perfect matches!!

Hope it helps!

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