Pivot Points- Are They That Strong?

[adtrade]

Hi,

Can someone tell me if Pivot Points are really of great value? From what I can see a visual stop is much stronger i.e a previous high or a trendline. Is it better to be aware of the Support & Resistance as mentioned or should I use both?

Any help would be great.

[daydreamer65]

Originally Posted by adtrade

Hi,

Can someone tell me if Pivot Points are really of great value? From what I can see a visual stop is much stronger i.e a previous high or a trendline. Is it better to be aware of the Support & Resistance as mentioned or should I use both?

Any help would be great.

Have you found a system that works well with them?

Like all indicators if you find a system which works &
works well, then use them. Nobody can tell you whether
one indicator works better than any other, it is all personal
taste.

That said I personally use support & resistance lines
combined with price action & have found no great use for pivot
lines, but.......

Have fun.

[adtrade]

Thats what I find too, I`d like them just there as a reminder but too many lines and there`s nearly nowhere price can go (psychologically)!

[jackt]

I find monthly pivot tends to attract price bar