No registration required! (Why?)

R3 calculation

I have seen many sites using

R3 = R1 + range

but your site is using R3 = R2 + range

Do you know who is right?

I've done a fair amount of research and there's no consensus. Right is the formula that makes you the most money trading. This depends on the strategy that you employ with the pivots, your money management and the symbol that you're trading.

I have seen many sites using

R3 = R1 + range

but your site is using R3 = R2 + range

Do you know who is right?

I've done a fair amount of research and there's no consensus. Right is the formula that makes you the most money trading. This depends on the strategy that you employ with the pivots, your money management and the symbol that you're trading.

I agree that there is no "right" way. If you try to make the various S&R points mean something, you are missing the point. The pivot points mean nothing.

NOTHING.

But if you will do your statistical analysis on a large set of data, you will find that the classical pivot points tend to provide fairly reliable stop points for day trades. "Fairly Reliable" means a statistically verifiable high-probability trade is available at those points.

The Fibonaccis are the same. They don't mean anything, but a rigorous statistical analysis on a large enough data set will reveal that these Fib points can provide high-probability trades.

You can find a similar