EuroMotif

Guide to Pivot Points: Chapter 2

Education
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
This is a follow up to my previous Idea. Please see that one first if you have not yet done so:


Chapter 2: ''Mid'' Pivots or Mid Points.

Math:
Simply 1/2 of the two Main Pivots nearby.

Order:
M-1 is halfway between Support2 and Support1.
M-2 is halfway between Support1 and Central Pivot
and thus M-3 and M-4 are above Central Pivot , counting UP.
Not sure why it is done this way, but you get used to it

Use:
Mid Pivots are used by many traders, and sometimes called 'Minor' pivots .
They often cause a break/turn, especially if near another time frame pivot .
I add a mid pivot if price is near the range, to gauge the effect in detail.
Scalpers should just get in the habit off adding them each week/month.

Time Frames:
For Mid Pivots I usually only add to Monthly and Weekly.
One could add to Daily as well, and that would be valid.
I add Daily if I am performing surgical precision analysis.

My Application:
MID-Pivots are NOT in the TV indicator ''Pivot Points Standard''.
So I add them manually, with a fib to find 50% between two main points.
Hopefully TV will ad a Pivot indicator with Mid pivots soon.
There may be indicators created by Users, that include Mid Pivots
For this tutorial I wanted to use readily available TV features.


Comment: Update on current Pivot status for apr 8th 2018.
Just a quick look at how the Pivots are lining up for this week.
A couple of ''clusters'' or ''zones'' to watch where multiple pivots are close.
Comment: Another example of Pivot based price action.
LTC over last couple of weeks:
Comment: I have posted a ''Chapter 3'' below. (how to draw NEXT period's pivots):
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag

Comments

hi. .very nice... thank you for suggesting this indicator.. looks interesting.
Reply
I've been using these from your post. Thanks for the info.
Reply
@LynMcd, Great to hear, and you are very welcome. Pivots are good for setting targets, perhaps more so than entries, but they seem to do their thing, week after week....
+1 Reply
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