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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?
22-Oct-09
Key Price Levels
1072.00 03:44
1080.50 07:23
1070.25 09:03
1080.50 10:48
1076.25 11:29
1089.25 14:25
1080.50 08:36


[U Fibonacci Retracements and Extensions /u]
- PP ---
* Price-*
Dif
+62% 1088.50
1089.25
-0.75
LOW 1072.50
1072.00
0.50

Notes: +62% and Low = good matches.

Hope it helps!

23-Oct-09
Key Price Levels
1089.50 05:23
1095.25 08:05
1093.50 08:30
1075.75 10:22
1082.50 11:47
1071.50 14:39


Daily Classic Pivot Points (ETH basis)
- PP ---
* Price-*
Dif
PP 1084.50
1082.50
2.00
S1 1076.50
1075.75
0.75



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

Daily Classic Pivot Points (RTH basis)
- PP ---
* Price-*
Dif
R1 1093.50
1093.50
0.00
PP 1083.00
1082.50
0.50
Notes: Excellent matches!

[U Fibonacci Retracements and Extensions /u]
- PP ---
* Price-*
Dif
HIGH 1092.25
1093.50
-1.25
50% 1081.25
1082.50
-1.25
LOW 1070.25
1071.50
-1.25

Notes: Fib all the same dif of -1.25 !!

Hope it helps!

26-Oct-09
Key Price Levels
1082.75 05:07
1077.25 06:33
1076.25 08:25
1088.50 09:07
1062.25 11:06
1069.00 12:43
1061.25 14:28

Daily Classic Pivot Points (ETH basis)
- PP ---
* Price-*
Dif
PP 1081.25
1082.75
-1.50


Daily Classic Pivot Points (RTH basis)
- PP ---
* Price-*
Dif
PP 1083.00
1082.75
0.25
Notes: pre open match

[U Fibonacci Retracements and Extensions /u]
- PP ---
* Price-*
Dif
62% 1086.25
1088.50
-2.25

Notes:Not much today.

29-Oct-09
Key Price Levels
1040.00 07:22
1050.00 08:00
1044.75 08:45
1054.25 09:23
1049.25 09:43
1064.00 14:06


Daily Classic Pivot Points (ETH basis)
- PP ---
* Price-*
Dif
Notes: PP close to the high.


Weekly Classic Pivot Points
- PP ---
* Price-*
Dif
S1 1065.25
1064.00
1.25
S2 1053.25
1054.25
-1.00
Notes: S1 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 1053.00
1054.25
-1.25
PP 1045.50
1044.75
0.75
Notes: Good match PP to low

[U Fibonacci Retracements and Extensions /u]
-- PP ---
* Price-*
Dif
HIGH 1063.00
1064.00
-1.00
62% 1053.50
1054.25
-0.75

Notes: HIGH worked well

Hope it helps!

30-Oct-09
Key Price Levels
1061.00 04:20
1056.00 06:32
1061.75 08:43
1031.00 12:33
1040.00 13:08
1029.50 14:06

Daily Classic Pivot Points (RTH basis)
- PP ---
* Price-*
Dif
S1 1030.75
1029.50
1.25

Notes: Good match S1 to low

Hope it helps!

02-Nov-09
Key Price Levels
1035.75 08:09
1034.00 08:47
1049.50 09:39
1040.75 10:00
1047.25 10:22
1026.00 12:00


Daily Classic Pivot Points (ETH basis)
- PP ---
* Price-*
Dif
PP 1041.75
1040.75
1.00


Weekly Classic Pivot Points
- PP ---
* Price-*
Dif
PP 1050.25
1049.50
0.75



[U Fibonacci Retracements and Extensions /u]
-- PP ---
* Price-*
Dif
50% 1046.25
1049.50
-3.25
LOW 1029.50
1026.00
3.50

Hope it helps!

04-Nov-09 Wednesday
Key Price Levels
1045.00 07:15
1051.50 08:09
1047.75 08:45
1057.50 09:31
1046.00 13:29
1058.50 13:43
1041.50 14:51

Daily Classic Pivot Points (ETH basis)
- PP ---
* Price-*
Dif
R1 1048.25
1047.75
0.50
Notes: R1 only match today.
05-Nov-09
Key Price Levels
1049.50 08:41
1062.00 09:47
1055.75 10:54
1063.00 12:49


Daily Classic Pivot Points (ETH basis)
- PP ---
* Price-*
Dif
R1 1056.75
1055.75
1.00
Notes: R1 matched the high

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 1056.50
1055.75
0.75
Notes: R1 matched the high

[U Fibonacci Retracements and Extensions /u]
-- PP ---
* Price-*
Dif
50% 1049.75
1049.50
0.25

Notes: 50% caught the low.

Hope it helps!

09-Nov-09 Upslash day"
Key Price Levels
1068.25 04:00
1078.50 05:06
1074.00 08:33
1089.25 13:45
1087.00 14:35
1092.00 15:14 23.75

Notes: Buy at 4am sell at close.

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

Daily Classic Pivot Points (RTH basis)
- PP ---
* Price-*
Dif
R3 1091.25
1092.00
-0.75
R1 1072.00
1074.00
-2.00
Notes: Good match R3 to high

[U Fibonacci Retracements and Extensions /u]
-- PP ---
* Price-*
Dif
+100% 1089.00
1089.25
-0.25

Hope it helps!

10-Nov-09 Narrow range "chop slop" day.
Key Price Levels
1091.00 04:58
1086.75 08:08
1090.75 08:49
1094.50 09:30
1085.00 11:30

Daily Classic Pivot Points (RTH basis)
- PP ---
* Price-*
Dif
PP 1086.00
1085.00
1.00

Notes: Good match PP to low

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