Pivot Points Levels

Trading Discussion
1

Hey

I am slightly confused with Pivot Points, when adding them to the chart I have to select daily, weekly or monthly pivot points, what is best to use on what time frames?

For example, if I use daily or even weekly pivot points on a day chart the pivot levels are very close together, so I take it I should use monthly pivots on a day chart?

And should use daily pivot points when using any charts 1 hour or below?

If anyone could advice if I am doing this right please it would really help

Thanks

2

Daily goes on a Daily, Weekly on a Weekly, and Monthly on a Monthly.
You daily pivot points should show up on your 1H chart, albeit a lot “wider” apart.
You could, on the 1H chart use them the same way you would on the Daily chart,
just as another level that you may, or may not, assign relevance to.