What’s the differences between regular pivots, Woodie, and camarilla pivots? Is one better to ue than another?
From what I’ve read so far, they don’t seem to be a lot different from the regular floor pivots. This thread might help…
trade2win.com/boards/day-trading-scalping/21457-camarilla-pivot-points-useful
The main difference is in the way they are calculated, but also in the way they are used, regular pivots aka floor pivots also known as 5 point pivots are the most commonly used, they provide the main pivot point which is a primary point of support/resistance at which the price could go either way, the support and resistance levels are calculated from that point.
Then you have woodies which are simalar to regular pivots but calculated differently to give more weight to the previous days close
The main difference between them and camarilla pivots is camarilla pivots dont have a central pivot point, they just give 8 levels of support and resistance, I read a tutorial on them one time that descibed how to use camarilla pivots as a way to set stop loss and take profit levels but I cant remember how it said to do that and I never actually tried it so I have no idea how well that works.
Edit: The main reason I didnt was because at the time it seemed like a hell of a thing to calculate them, that was before I knew about pivot point calculators.
I had kinda forgotten about camarilla pivots you dont often see anyone mention them on here I think I might go back over my tutorials and find that one so I can try it.