How do I obtain the values to use in calculating pivot point?

[Clint]

@Lexzykool317

… there are times i place trades during the late hours of the New York Session I.e. after the New York and London session overlap.so what time frame will be advisable to use to obtain the values of open and close for this session?

I have a somewhat different view of trading sessions than most other traders. In my view, volatility and volume dictate 4 distinct daily “sessions”, illustrated by the following graphic –

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If you look at the line showing London times, you will recognize the times suggested in my previous post.

Using this pattern of “trading sessions”, it’s clear that pivots derived from the London Morning Session would be projected into the London / New York Overlap Session, just as described in my previous post.

And then, in similar fashion, pivots derived from the Overlap Session would be projected into the New York Afternoon Session. So, that’s one way to go about it.

Another way would be simply to use the London Morning Session pivots for all of the New York Session (from 12 pm GMT to 10 pm GMT).

If you’re up for a challenge, do it both ways, and see whether there’s a significant advantage to one or the other.

Note that this graphic applies to northern hemisphere winter (September - March). After the daylight saving time shifts in March and April, a slightly different graphic will apply.

You probably know this, but in case you don’t, you can click on the graphic to enlarge it (otherwise, it’s pretty hard to read).

If you want to read how I came to view trading sessions this way, here’s a thread from last April –

Trading Sessions Defined by Forex Market Liquidity

Since I first began to learn about the forex market, I have understood trading sessions to be the times of day when various major trading centers are active. According to this view, it all starts in New Zealand, sometime in the early morning (New Zealand time), and ends in the U.S., sometime in the late afternoon (New York time). I’ve always looked at it this way, because that’s how it was taught to me 11 years ago. I’m now throwing all that out. The important thing about trading sessions i…

[Lexzykool317]

Thanks a lot, Clint for all the explanations and diagrams. I have also gone through the thread you referred to. They have all been very helpful. I am very grateful.